NSITF under my watch will promote workers’ interest — Sola Olofin

…vows to demand accountability on remittances

Honourable Sola Olofin, the new Chairman of the Nigeria Social Insurance Trust Fund (NSITF), has pledged to ensure that employers prioritize remittances to the Fund to safeguard the interests of their employees. He made this declaration during his remarks at his assumption of office.

Checks revealed that, by virtue of the Act establishing it, the NSITF is mandated to provide comprehensive compensation for employees who suffer work-related injuries, illnesses, or fatalities. The Fund must also ensure that suitable and adequate welfare is provided for all persons in employment.

Honourable Olofin maintained that, in collaboration with stakeholders, employers would be compelled to pay their mandatory remittances. He emphasized that many employers in Nigeria have yet to fully comply with the provisions of the Employees’ Compensation Act, noting that Section 33 of the ECA makes it mandatory for all employers to remit their contributions to the Fund.

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He stated: “We must work closely with stakeholders, including labour unions, regulatory agencies, and the private sector, to expand the scope of compliance and ensure that every eligible worker is protected under the scheme.”

For the effectiveness of its operations, he stressed that the Fund must leverage technology to streamline processes, reduce delays, and ensure that compensation claims are processed swiftly and fairly.

“I will work closely with the Managing Director and Executive Directors to explore digital solutions that will improve accessibility and accountability in our operations,” he said.

While appealing for the cooperation of workers and promising to enhance their individual capacity, Honourable Olofin charged them to commit themselves to the highest standards of probity and transparency.

“The Fund must be managed with the highest standards of integrity,” he stated.

He further highlighted that Section 62 of the ECA outlines the proper administration and utilization of funds.

“Therefore, we will introduce stricter financial controls, enforce transparency, and ensure that every naira remitted to the NSITF is utilized solely for the benefit of employees and employers who contribute to the scheme,” he added.