NSITF: New MD sets agenda, plans system automation

NSITF MD Adebayo Somefun

The Nigeria Social Insurance Trust Fund (NSITF) is set to automate its collection and payment systems to ensure transparency and accountability.

The New Managing Director and Chief Executive of the fund, Mr Adebayo Somefun disclosed this in an interview with newsmen in Abuja on Thursday.

Somefun who laid out a four point agenda for the new management of NSITF said that the system of collection must be automated to ensure that contributions are made when they are due.

He added that although he was still new as the MD, he had already identified certain areas where the NSITF needs to be repositioned for more acceptability and transparency.

He however stressed that previous administrations also performed greatly but there was need for consolidation and improvement.

“We are looking at a 4-point agenda. Number one is consolidating upon the achievements of the previous administrations and improving upon existing systems.

“Number two is raising the revenue base to meet our statutory responsibilities: when we are talking about improving upon existing systems we are talking about getting this place fully automated.

“If this place if fully automated then it takes care of so many thing, the contribution will be online, there will be transparency, people will pay when due.

“Everything will be online: It is a trust fund there must be transparency.

“The third is to rebrand NSITF to improve acceptance and public enlightenment which we have already started. We must make the public aware of what we are doing.

“The last one is motivation of staff through welfare. That is what we intend to do, those are the four point agenda.

Mr Somefun said that the NSITF already had collaboration with many government agencies that would help them ensure compliance.

He added that when the fund begins its automation, it would be linked with organisations like the Corporate Affairs Commission (FIRS) and the Federal Inland Revenue Service (FIRS).

He added that a major aim of the new management was to create awareness and to instil public confidence in the NSITF.

He went on to explain that the Employee Compensation Act of the NSITF makes it responsible to provide compensation to employees who suffer from occupational diseases, sustain injury or disability from accidents from work place or in the course of employment.

Somefun added that the fund under the also provides compensation to the dependants of an employee who dies in the course of work.

He said that the ECA provides a no-fault scheme because it is a social fund which intends to ensure speedy compensation of employees adding that there is both cash and non-cash benefits.

The MD added that any injured employee could be trained or rehabilitated under the NSITF scheme in any vocation that is suitable for their current condition physical and health conditions.