NSITF MD: New executives will focus on prompt payment of claims, public enlightenment

Michael Akabogu, managing director of the Nigeria Social Insurance Trust Fund (NSITF), says the new executives of the organisation will focus on improved service delivery.

The NSITF has been in the news after Bayo Somefun, its former managing director, and some board members were accused of corrupt practices and misappropriation of funds.

This followed a probe by the senate, which revealed that the management had allegedly misappropriated N84 billion in four years.

President Muhammadu Buhari had subsequently ordered the sack of the management and constituted a new board.

Speaking at a media briefing in Abuja on Thursday, Akabogu, while noting that a lot of negative issues have been associated with the NSITF since 2012, said the new executives will put certain strategies to reposition the organisation.

“Immediately we got in there, we had a meeting with our people, and told them that now the narrative will have to change. In doing that, we have to make sure that we get the workforce in line to be able to face what the new corporate team has in mind to be able get NSITF to the right direction. And in doing that, we have various strategies that we’ll put in place to be able to get things done in the right way. We have our focus,” he said.

“For instance, one of our major focus is to be able to create a pathway to reward excellence and outstanding service, while maintaining utmost commitment to staff welfare. The second one is to reposition the public perception of the fund. Our focus now is to showcase what exactly NSITF is all about, our mandate, and what we do.

“The third one is to increase the productivity of every department of the fund, and use quantifiable metrics to measure our performance in weeks and months ahead. The fourth one is to improve and ensure prompt payment of claims and compensation to give value for money to all the contributors.

“The fifth one is to widen the spread of our enrollees. Then the sixth one is to create more visibility of the fund through improved public care, engagement and public enlightenment activities. The final one is to create a conducive atmosphere in the organisation and make the fund a great place to work.

“In the next three months, you’ll be able to invite us here and we’ll give you a clear review of what we saw and what we’ve done.”

Also speaking, Musa Lateef, general manager in charge of enforcement, disclosed that the fund has registered up to 200,000 employees generally, “but actively, we have over 170,000 employees that are making contributions adequately on monthly or yearly basis”.

“For the payment of operations and development of employee compensation scheme (ECS), we have collected both from the private sector which has contributed over 80 percent and from government. So, we have raised N180 billion over this period of time from inception in July 2011 to May 30, 2021,” he said.