The Nigeria Social Insurance Trust Fund (NSITF) on Thursday presented a lump-sum Employees’ Compensation Scheme (ECS) cheque of ₦86,028,283.30 to Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited) at the Seplat House, in Lagos State.
The payment will be followed by ₦1,107,667.30 every month for the deceased employee’s spouse until the couple’s only child reaches the age of 21, in line with Section 29 of the Employees’ Compensation Act.
“Our reforms are cutting processing times and ensuring that bereaved families receive what the law guarantees without delay,” said Barr. Oluwaseun Faleye, Managing Director, NSITF.
“Today’s payment underlines our mandate to provide real, timely protection for Nigerian workers in high-risk sectors such as oil and gas.”
Oladotun Isiaka, Managing Director, Seplat Energy, welcomed the Fund’s swift action:
“It is reassuring to see a government institution live out its statutory mandate. We contribute about ₦1.7 billion to the Fund each year with the expectation that, should the unexpected occur, families will be compensated quickly. NSITF has met that expectation today.”
Building on a growing compensation record
Largest Lagos-region payout in 2025 – Today’s ₦86 million cheque surpasses the ₦15.5 million lump-sum delivered to the family of a Medplus employee on 30 June 2025, when NSITF also committed ₦1.192 million in monthly survivor benefits.
22,350 claims settled nationwide in 2024 – NSITF’s process overhaul, backed by President Tinubu’s Renewed Hope Agenda, has reduced turnaround times and expanded outreach to compliant employers.
Ongoing nationwide compensation tour – The Fund has visited manufacturing, construction, maritime, and healthcare clusters this year to underscore the tangible value of ECS compliance.
Call to action for employers
Barr. Faleye urged all employers, especially those in hazardous industries, to register and remain compliant with the ECS. “Compliance is not a cost, it is an investment in workforce welfare and corporate reputation,” he noted.
About NSITF
Established under the Employees’ Compensation Act 2010, NSITF provides compensation for work-related death, injury, disease, or disability. The Fund’s nationwide digital reforms have halved average claim processing times since 2023, making payouts faster and more transparent.
Media enquiries
Corporate Affairs Department, NSITF
Tel: +234 (0)9 876 5432 | Email: media@nsitf.gov.ng