Connect with us

Business

NSITF Pays N546m to Work Place Victims

Published

on

WAPIC
  • NSITF Pays N546m to Work Place Victims

The Nigeria Social Insurance Trust Fund (NSITF) has so far paid over half a billion naira as compensation to victims of work place accident under the Employee Compensation Scheme since it’s inception.

Managing Directorof the Fund, Adebayo Somefun, who stated this at the NSITFspecial day at the Abuja Trade fair, said a total of N545 million has so far been paid out by the fund.

This include N202.9 million as Health Medical Refund, N261 Million paid as Death Benefit, N74 million as Disability Benefit and N8 million paid to employers for Loss of Productivity for employers (amongst others).

He said the ECS basically provides social security for employees who sustain injuries in the course of employment or their dependants in the case of death: it further encourages occupational safety and health standards in the workplace.

He listed the contingencies covered by this unique scheme to include compensation for injuries, mental stress, occupational diseases, hearing impairment, permanent or temporary disability and even vocational rehabilitation as well as covering for benefits of deceased employees whose families’ fortunes are upheld even after the passing away of their bread winners.

He stressed that all these have served as massive incentives for enhanced productivity and economic development as Nigerian workers are assured of a guaranteed livelihood.

Speaking on the achievement of fund since it was established, Somefun said “as a Fund, NSITF has been making giant strides and in the last one year alone, the Fund has paid for 42 artificial limbs/parts to cater for workers who lost their limbs etc, while carrying out their duties at work. It would interest you to know that the 42 beneficiaries of the artificial limbs/parts are currently being fitted and trained on how to move on with their lives as we speak.

“However, it is not only about the limbs, the Employees’ Compensation Scheme provides for other categories of benefits. Between January 2017 and June 2013, the Fund has paid N835, 318, 858, 62Kobo to beneficiaries as claims and compensation”

“This is to say that those who have benefitted from this special scheme run by the Fund include 298 injured employees placed on monthly or periodic payment. Those on periodic payments are employees still in their productive years of 55 and below who are no longer functioning effectively because of workplace/related injuries. Twenty (20) persons above the age of 55 years have been paid lump sums on a once-off basis.

“In order to cushion the burden on families of deceased employees who died in the course of work, the Fund has paid forty-one (41) lump sums for accidents/diseases resulting in death of the employees and is currently paying 226 families monthly benefits, one of which receives N1.5 Million monthly.”

He said further that to access these benefits, the employer – government or private/individual is required to pay onIy one percent (1%) of total payroll of the employees to the NSITF, and this is at no cost to the employee! Once that is done, it becomes the duty of NSITF to carry the burden which otherwise would have gone to the employer where there is a workplace injury, death or disability.

He sais “the beauty of the scheme is that it is a “no-fault” scheme, and covers all categories of workers in every sector of employment. As the law enabling the scheme stipulates, every organisation that employs even one worker is under statutory obligation to register for the ECS: these include domestic staff. It also emphasises that failure to do so amounts to a breach of the law.

“According to Section 73 of the EEA; “an employee means “a person employed by an employer under oral or written contract of employment whether on continuous part-time, temporary, apprenticeship or casual basis and includes a domestic servant who is not a member of the family of the employer including any person employed in the Federal, State and local governments and any of the government agencies and in the formal and informal sectors of the economy.

“While I reiterate that every Nigerian worker deserves the best and must be made to have a sense of value, let me state that when a worker knows that his future is secured in the case of injury while performing his functions, he/she has a deeper sense of commitment to the employer.

“To make the process of keying into the scheme easier, the Fund has introduced a digital platform that is called Electronic Collection, Compliance and Compensation (EC4), to galvanise enforcement compliance, claims and compensation activities as well as the overall operations at the Fund. This enables employers to easily register, pay contributions, access their ECS status and make claims, all online and in real time from the comfort of their offices/ homes.”

He expressed confidence that with its track record of successes in managing social security schemes since its establishment, the Nigeria Social Insurance Trust Fund is poised to undertake its mandate with impeccable responsibility. It is on this premise that we, not only celebrate the success story at the Employees’ Compensation Scheme, but urge and spur all employers to step forward and ensure the welfare of their employees.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

Published

on

Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

Continue Reading

Appointments

Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

Published

on

siemens

Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

Continue Reading

Business

FG Reopens Osubi Airport Warri for Daylight Operations

Published

on

muritala-muhammed-airport

FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading

Trending