NSITF Pushes For New Employee Compensation Scheme

Nigeria Social Insurance Trust Fund (NSITF) said it is fashioning new strategies for optimum implementation of the Employee Compensation Scheme (ECS).

The initiative was made known by the NSITF managing director, Maureen Allagoa at the fund’s Regional Management Performance Review (MPR) where she said that the fund remains focused on new strategies to optimise its delivery of the employee compensation as a crucial vehicle in the federal government’s commitment to workers welfare.

The event, which took place at six centres in Kano, Owerri, Keffi, Ibadan, Port Harcourt, and Bauchi, respectively, aimed to review scorecards under four key performance indices of collections, claims processed and paid, debts recovered, and expenditures against collections compared to the previous year.

According to a statement issued by the NSITF general-manager, corporate affairs, Nwachukwu Godson in Abuja yesterday, Allagoa, emphasised the need for regional and branch managers to strategize and improve productivity.

She said that the fund is institutionalising a reward system to reward individual and collective efforts towards better compliance.

“There is a need for a smart business approach, where each region or branch must be encouraged not only to be able to pay its bills but do more, on our part, we are  institutionalising a reward system to ensure that every individual and collective efforts towards better compliance is rewarded.

“We have further enhanced compliance capabilities by providing buses for the branches. The first set of ten has been distributed and another set will soon be procured. The goal is to ensure that every branch will have a bus for compliance operations,” she added.