• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NSITF Expands Compensation Scheme To Fintech, Agency Banking

by Adegwu John
8 months ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The Nigeria Social Insurance Trust Fund (NSITF) has extended its Employees’ Compensation Scheme (ECS) to cover the rapidly growing fintech and agency banking sectors.

Advertisement

The initiative was recognised as a proactive move by the national President of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), Comrade Anthony Abakpa.

At the scheme sensitisation workshop in Kano, he stressed the potential benefits of the collaboration between NSITF and stakeholders in mobile money and fintech.

In a statement by NSITF general manager, Corporate Affairs, Nwachukwu, Godson, Abakpa pointed out that the inclusion of these sectors under the ECS framework would promote a safer and more supportive environment for employees across Nigeria.

He encouraged the NSITF to adapt to the unique needs of fintech and agency banking through digitised registration and management processes.

RELATED

Deploying AI Will Not Cause Job Loss In Nigeria – Expert

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

11 hours ago
FirstBank Customers Get N93m In ‘Win Big Promo’

FirstBank Launches Facial Recognition On Mobile App

11 hours ago

Abakpa suggested the use of digital platforms, including online portals and mobile apps, to facilitate seamless onboarding for employers and employees in the informal sector.

In addition, he recommended the development of customised solutions that cater to the flexible structures within the fintech industry, such that it tailor towards contribution plans and inclusive policies with incentives like tax breaks for registered employers.

NSITF’s managing director, Oluwaseun Faleye, represented by Chika Onyewuchi, the general manager of the Informal Sector Department, outlined the objectives of the ECS expansion.

Onyewuchi stated that the initiative not only contributes to financial inclusion but also fosters a more secure working environment for fintech agents.

She explained that the ECS coverage protects agents in case of work-related accidents, encouraging skilled workers to join the industry and broadening access to financial services in remote, underserved areas.

Onyewuchi further noted the scheme’s benefits, including legal liability protection for agency banking providers.

By enrolling in the ECS, she added that the providers reduce their exposure to legal risks associated with workplace accidents and illnesses, as the NSITF assumes responsibility for handling claims.

She argued that to mitigate financial vulnerability, low productivity and bridge the gap between the formal and informal sector, the ECS which narrows inequality through social protection must be embraced by all players in the informal sector.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: NSITF
SendShareTweetShare
Previous Post

Nigeria Spends N1.48trn On Raw Material Imports In Q2

Next Post

Equities Market To Experience Mixed Performance This Week

Adegwu John

Adegwu John

You May Like

Deploying AI Will Not Cause Job Loss In Nigeria – Expert
Business

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

2025/06/30
FirstBank Customers Get N93m In ‘Win Big Promo’
Business

FirstBank Launches Facial Recognition On Mobile App

2025/06/30
Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade
Business

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

2025/06/30
Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger
Business

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

2025/06/30
Council Targets Accelerated Sugar Project Devt In 2025
Business

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

2025/06/30
Bbb+ Rating
Business

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

2025/06/30
Leadership Conference advertisement

LATEST

Gwarzo Hails North’s First Clinical Pharmacy Prof, Hadiza Ma’aji, On Professorial Elevation

JUST-IN: Dantata’s Burial Postponed To Tuesday 

Court Jails Cab Driver For Unlawful Trafficking Of 12 Live Parrots

Jega Harps On Modernisation Of Nigeria’s Livestock Sector

Minister Inaugurates 11-man NPA Governing Board

Navy Arrests Suspected Militant With Firearm In Bayelsa

Police Nab ‘One Chance’, Kidnap Syndicates In Delta

APC Fixes July 24 For NEC Meeting To Pick New National Chairman

Armed Robber Dies After Failed Attack On Kano Household

Man Dies, Woman Rescued In Kano Well Accidents

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.