Faleye: Social Insurance Scheme Mechanism for Social Justice

Oluwaseun Faleye, the Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), emphasized the importance of the Employees Compensation Scheme (ECS) as a vital instrument for social justice during a SERVICOM Stakeholders Engagement event in Enugu. Faleye highlighted that ECS helps shield both employers and employees from tax burdens and ensures corporate social responsibility for injured workers.

Despite this, many employers have failed to comply with the Employees Compensation Act, leading to a lack of awareness and refusal to enroll workers in the scheme. Faleye revealed that the Fund has paid claims to worker beneficiaries but stressed the need for increased awareness and compliance.

Enugu State Commissioner of Finance and Economic Development, Nathaniel Urama, expressed the state government's commitment to employee welfare and social protection, emphasizing the correlation between social protection and national productivity.