NSITF tasks employers in informal economy

By Bimbola Oyesola, [email protected]

The Nigeria Social Insurance Trust Fund (NSITF) has reiterated that employers in the informal sector must ensure that their workers are protected by keying into Employee Compensation Scheme (ECS).

According to the NSITF’s regional manager, Mainland Region, Lagos, Agboma Obiaku Okoroafor, the vision of the organization was that, “every worker, whether in the formal or informal sector, deserves protection from unforeseen circumstances that could disrupt their livelihood.”

Speaking at the 25th anniversary of Auto Spare Parts and Machinery Dealers Association (ASPMDA), Okoroafor described NSITF as a caring organization bringing good news to the association “that you can take charge of your lives by keying into the Employees’ Compensation Scheme and enjoy its numerous benefits.”

She noted that the managing director of NSITF strongly believed that the informal economy must be included in all facets of government intervention, especially in social security.

“The NSITF Employees’ Compensation Scheme (ECS) is designed to provide financial and social protection to workers in both the private and public sectors, ensuring they are not left vulnerable in times of need,” she added.

The Regional Manager commended ASPMDA for the initiative to promote the scheme amongst its members emphasizing benefits that were available in the scheme.

She expressed that joining the scheme, would enable workers in the informal sector gain access to a range of cash and non-cash benefits, which include Death benefits, that ensures financial support for the family of a deceased worker.

Okoroafor also said there is Disability Benefits for workers who can no longer work due to disabilities from the workplace as well as Medical expense refunds – covering costs for treatment of work-related injuries or illnesses.

Others are loss of productivity compensation to ensure workers have income support during recovery.

“There are also provision of prosthesis and assistive devices – for those who require them due to workplace injuries and also Vocational skills training to help injured workers acquire new skills to remain productive” she said.

She explained that there are equally rehabilitation services to support physical and psychological recovery of workers towards reintegration into the workforce.

“The informal sector is the backbone of our economy, and it is only fair that its workers enjoy the same protection as those in the formal sector. I encourage you all to embrace this opportunity, secure your future, and safeguard your businesses,” she emphasized.

Okoroafor said that the support NSITF provides would ensure that workers and employers in informal economy are not alone, adding, together, we can build a workforce that is not only productive but also protected.

The President of ASPMDA, Ngozi Emechebe, said the association has identified NSITF as a key stakeholder in promoting social security and welfare in Nigeria, adding that NSITF presence was a great honour to the association.

“We believe that our association’s goals align with the Nigeria Social Insurance Trust Fund’s mission to provide social security protection and safety nets for Nigerian workers and their

families,” she maintained.

The President also stated that the presence of NSITF at the milestone event “not only add to the joy and festivity of the occasion but also

serve as a source of inspiration to our members.”