In demonstration of the commitment of the Oluwaseun Faleye-led executive management of the Nigeria Social Insurance Trust Fund (NSITF) to ensuring the Fund delivers on its mandate, the Managing Director and Chief Executive has presented three cheques totalling N75,840,194.73 to beneficiaries in Port Harcourt, Rivers State.
Presenting a cheque of N54,642,194.73 (fifty four million, six hundred and forty two thousand, one hundred and ninety four naira and seventy three kobo) in Port-Hacourt on Wednesday to the dependants of late staff of depthwize, the NSITF boss commiserated with the family, friends, and colleagues of the deceased.
While acknowledging that nothing could compensate for life lost, he nonetheless, expressed hope that the money “brings some measure of comfort and support during this difficult time.”
The late employee of Depthwize Nigeria Limited 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 mother of four children.
Barrister Faleye assured that aside the lump sum payment, “the dependents will be paid monthly death benefits of N2,023,784.09 (two million, twenty-three thousand, seven hundred and eighty-four thousand, ninety-nine kobo representing 90% of the deceased’s salary until the last child turns twenty one years in 2042.”
Orela Okulue VP, representing the MD, Depthwize Nigeria Limited lauded 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 deeply appreciated the Fund for making the process seamless and bringing succour to the families and the organization.
According to her “it has made our work very easy and we appreciate the management team of NSITF for coming.”
In the same vein, the NSITF team called at Daewoo Nigeria Limited where the MD presented a cheque of N13,197,077.34 (Thirteen million naira one hundred and ninety seven thousand thirty four naira) was presented in favour, an employee of Daewoo who was involved in an automobile accident in March, 2022, leading to amputation of his left leg.
Barrister 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 revealed that the beneficiary would continue to receive monthly payment until he turns 55 years old in 2033.
Responding on behalf of Daewoo, the General Manager, Mr. Akabo Clement Abrakasa expressed delight for the visit and stated that NSITF was a critical stakeholder to the Daewoo family.
In his words: “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, was last on the list for the second phase of cheque presentation.
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 orry 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.
One of the beneficiaries, a staff of the NSITF expressed her gratitude to the Fund for coming to her aid in time of need. She was especially full of praises for the MD for his “making NSITF come alive again.”
