Admin.
The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, has urged the Economic and Financial Crimes Commission (EFCC) to enlist its staff in the Employees’ Compensation Scheme (ECS).
Faleye made the call when he paid a courtesy call on the Executive Chairman of the EFCC, Mr. Ola Olukoyede at its corporate headquarters in Abuja.
Briefing the EFCC chairman, Mr. Faleye said the visit was “To formally introduce and advocate for the Employees’ Compensation Scheme (ECS), a crucial social security initiative that enhances employee welfare and protection.
He added that the visit also aimed at “exploring potential collaboration areas between NSITF and EFCC for the benefit of both organizations and national governance”.
The MD explained that ECS contribution is a manageable percentage of employees’ total monthly emoluments, making it a predictable and budget-friendly obligation.
Enumerating the key benefits of the scheme, Faleye said they to include: Coverage of medical expenses, disability benefits, death benefits for dependents and rehabilitation services for injured employees.
According to him, the mandate of the NSITF is to administer the scheme efficiently, ensuring that Nigerian workers are protected while organizations remain compliant.
He added that by subscribing to the ECS, the EFCC would enhance the welfare and morale of staff as it would “demonstrate EFCC’s commitment to the well-being of its workforce, boosting morale and productivity”
He noted that “The ECS absorbs the financial burden of work-related injuries, diseases, disabilities, or death, covering medical costs and compensation.
“While public institutions are expected to participate, EFCC’s voluntary subscription will align with best practices and reinforces its role as a compliant and responsible employer.
“Being an ECS subscriber will portray the EFCC as a socially responsible agency that prioritizes its employees’ welfare. By entrusting work-related injury compensation to NSITF, EFCC will focus on its core mandate of fighting economic and financial crimes”, he stated.
Reiterating the need for collaboration, Faleye said “We are eager to explore and formalize collaborative efforts between NSITF and EFCC for mutual benefit and national interest.
Highlighting the potential area of collaboration, the MD stressed that the EFCC’s insights on fraudulent claims and non-compliance can help NSITF enhance the integrity of ECS.
He also proposed joint capacity building sessions for personnel from both agencies on fraud detection and investigation related to workplace incidents and legal frameworks governing employee compensation and workplace safety.
Faleye said the NSITF could benefit from EFCC’s expertise in uncovering fraudulent ECS claims and enforcing compliance, strengthening the scheme’s credibility.
“We are open to any additional areas of collaboration that the EFCC may propose.”
The Employees’ Compensation Scheme was established by the Employees’ Compensation Act of 2010 to provide compensation to employees who suffer work-related injuries, diseases, disability and, or death.
It operates on a no-fault basis, ensuring that employees receive compensation regardless of the cause of the workplace incident.
The scheme is funded through employer contributions in both the public and private sectors.
In his response, the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, assured the Fund, of enhanced collaboration and involvement in the management of its fund.
According to him “We will continue to collaborate with you, particularly in the area of the management of funds, which has to be done in the most transparent and accountable manner. That is what we are here for. We need to let you know some of the things we have discovered in the course of our investigation so that going forward, you will not make the mistake of your predecessors”.