By Festus Ahon, ASABA
REGIONAL Manager of Nigeria Social Insurance Trust Fund, NSITF, Mr ThankGod Max-Egba has told the organized private sector to take advantage of the Employees Compensation Scheme, ECS of the Federal Government to guide against occupational mishaps.
Max-Egba who stated this at a roundtable with stakeholders in Asaba assured leaders of several trade groups of the security, sustainability and transparency of the ECS.
The Regional Manager who was responding to concerns raised during the roundtable said the ECS was designed to also help the worker remain safe, healthy and productive.
He held that the operations of the scheme were strictly guided by an Act of the National Assembly, explaining that the funds contributed by the policyholder would be domiciled with the Central Bank of Nigeria.
In his remarks, the Principal Manager in charge of the Informal Sector Department of the NSITF, Mr. Chigozie Nwaobilor told stakeholders to encourage the scheme, adding that the ECS was expanded to accommodate the informal sector and contributed approximately 70 per cent of the nation’s economy.
Nwaobilor said the Federal Government was obligated to compensate policyholders who suffered occupational hazards or loss of productivity based on stipulated terms and conditions.
According to him, the ECS premium would be calculated based on the holder’s monthly earnings, adding that the scheme would cater for the holder’s next of kin in the case of death.
Nwaobilor explained that prospective policyholders in the informal sector would be registered through their union leaders, having tendered all supporting documents and fulfilled all qualifications.
The stakeholders’ meeting was graced by trade union leaders in the transport, fashion and cosmetics, market men and women, automobile sectors as well as the media.