The Nigeria Social Insurance Trust Fund (NSITF) has presented three cheques totalling N75,840,194.73 million to some beneficiaries of its Employees Compensation Scheme (ECS), in Port Harcourt, Rivers State.

The  Managing Director and Chief Executive of the Fund, Barr. Oluwaseun Faleye, who led other members of the management to portharcourt for the event presented one of the cheques to the dependents of a deceased employee of Depthwize Nigeria Limited who had 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.

While acknowledging that nothing could compensate for life lost, Faleye  expressed hope that the money “brings some measure of comfort and support during this difficult time.”

Barrister Faleye assured that aside the lump sum payment, “the dependents will be paid monthly death benefits of N2,023,784.09 million representing 90% of the deceased’s salary until the last child turns twenty one years in 2042.”

Representing the MD, Depthwize Nigeria Limited, Orela Okulue lauded NSITF’s commitment to alleviating the burden of families when work place accidents occur, and thanked the Fund for giving hope to the dependents of the deceased.

She appreciated the Fund for making the process seamless and bringing succour to the families and the organization saying, “it has made our work very easy and we appreciate the management team of NSITF for coming.”

In the same vein, the NSITF team presented a cheque of N13,197,077.34 million in favour of 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.

“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.”

Also presented a cheque was an employee of NSITF who had suffered workplace accident leading to a dislocated right knee.

Presenting the cheque, Faleye noted, “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 sorry 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.”

The NSITF boss who attributed the delay in payment of compensations mainly to late filling of claims and time allowed for investigations and verifications, however reiterated the Management’s resolve to make NSITF a social protection provider of international standards.