NUBIFIE, ASSBIFI Back Reforms, Amendment to NSITF Act

Onyebuchi Ezigbo in Abuja

The two major workers union operating in the Nigeria Social Insurance Trust Fund, (NSITF), Association of Senior Staff of Banks, Insurance, and Financial Institutions, (ASSBIFI) and the National Union of Banks, Insurance and Financial Institutions Employees, (NUBIFIE), have expressed support for the ongoing amendments to NSITF Act (1993) and Employee Compensation Act (2010) at the National Assembly.

In a letter addressed to the Minister of Labour and Employment, Dr. Muhammadu Dingyadi , signed jointly by the President of ASSBIFI NSITF unit, Bala Tijani and General Secretary Godwin Ekpah and Chairman, NUBIFIE NSITF branch, Simon Wenzamma and his Secretary, Miller Gudopwa, the unions said that amendments to NSITF Act 1993 and ECA 2010 were long overdue.

According to a source at the ministry, the two in-house unions, in the letter also commended the management team of NSITF led by its Managing Director, Barrister Olúwaseun Faleye, for embarking on “reconstruction and re-engineering of NSITF (Fund) to accomplish its strategic objectives since their assumption of duty.”

They expressed support for steps taken so far by the management to amend the enabling Acts, which they argued, were to further enhance the Fund’s efficiency and service delivery.

“It is pertinent to state that the amendments are geared towards empowering the Fund, clarify ambiguities, resolve conflicting provisions with other legislations and provide a firm framework for the Fund’s operations so as to provide safety net for workers in Nigeria who may be injured, sick, disabled or die in the course of carrying out their work.”

The workers’ unions also expressed optimism that the amendments, when passed, would make “the Fund more accessible and better equipped to serve its mandate.”

They affirmed their unflinching support for the management in its efforts so far as they condemned “some misleading actions and blackmail against the current management by some desperate individuals who are committed to either stagnating or retrogressing the Fund for personal gains.”

While supporting management’s decision to discontinue with the digitalisation contract, the unions urge the minister to also support the move as well the ongoing amendments of NSITF Act 1993 and ECA 2010 by the National Assembly.”

The workers’ unions described the digitalisation contract as fraudulent in origin, lacking in value adding that it was met with stiff opposition from workers right from its inception.

They also said that end users of the digital platform rejected the platform due to flaws in the execution of the project by the contractor. They argued that the cancellation prevented further waste of funds and demonstrated the management’s commitment to transparency and accountability in line with President Bola Ahmed Tinubu’s transparency agenda while describing it as “a bold step in the right direction which deserves the support of all.”