The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF),Oluwaseun Faleye, has presented three cheques totalling N75,840,194.73 to beneficiaries in Port Harcourt, Rivers State.
Presenting a cheque of N54,642,194.73 on Wednesday to the dependants of a deceased staff of Depthwize Nigeria Limited, the NSITF boss condoled the family, friends, and colleagues of the deceased.
Acknowledging that nothing could compensate for life lost, he expressed hope that the money “brings some measure of comfort and support during this difficult time.”
The late employee, according to a statement, was drowned when the drilling rig he was working on collapsed on 15th August, 2023.
He left behind a young family consisting of a totally dependent housewife and four children.
Faleye assured that aside the lump sum payment, “the dependents will be paid monthly death benefits of N2,023,784.09, representing 90% of the deceased’s salary until the last child turns twenty one years in 2042.
Orela Okulue VP, who represented the MD, Depthwize Nigeria Limited commended the NSITF’s commitment to alleviating the burden of families when work place accidents occur and thanked the Fund for giving hope to the dependants of the deceased.
She appreciated the Fund for making the process seamless and bringing succour to the families and the organization.
Besides, the NSITF team visited Daewoo Nigeria Limited where the Managing Director presented a cheque of N13,197,077.34 in favour of an employee who was involved in an automobile accident in March, 2022, leading to amputation of his left leg.
Faleye explained that: “This cheque, representing Medical Expense Refunds (N8,481,560) and Disability benefits (N4,715,517.34) totaling N13,197,077.34, demonstrates our
commitment to fulfilling our mandate.”
He disclosed that the beneficiary would continue to receive monthly payment until he turns 55 years old in 2033.
The General Manager, Mr. Akabo Clement Abrakasa, who responded on behalf of Daewoo, expressed delight for the visit and stated that NSITF was a critical stakeholder to the Daewoo family.
He said: “We are a critical stakeholder with NSITF and we are particularly happy with your presence because it’s a demonstration of your commitment to keeping to your promise of providing succour and support to deceased employees and injured staff.”
An employee of NSITF, also benefitted from the gesture.
The staff suffered workplace accident leading to a dislocated right knee.
Speaking at the occasion, the MD/CE said, “Today, I’m pleased to present a compensation cheque in the sum of
N8,001,095.64 to NSITF in
respect of one of our employee who suffered a workplace accident.”
“As we all know, workplace accidents can be unpredictable, and I am deeply
sorry that you had to go through this challenging experience. Your accident
which resulted in a dislocated right knee, was unfortunate. We appreciate your resilience and determination in the face of adversity.”
Barrister Oluwaseun Faleye attributed the delay in payment of compensations mainly to late filling of claims and time allowed for investigations and verifications.
He reiterated the management’s resolve to make NSITF a social protection provider of international standards.
