The Management of the Nigeria Social Insurance Trust Fund (NSITF) has refuted the claim that it has given superficial projects, maintaining that all of the Fund’s contracts have been fairly examined, approved, and carried out in accordance with the law.
The Management reiterated its commitment to implementing a new wage structure that will be free of inaccurate calculations and crucially reflective of the fund’s financial reality with the full involvement of the agency’s two employee unions.
In a statement, the general manager of corporate affairs of the National Security Insurance Trust Fund (NSITF), Mrs. Ijeoma Oji-Okoronkwo, expressed regret that the fund’s staff union was “influenced and misguided into a needless disruption of the activities in the agency, on March 16, 2023, by the fund’s leadership that was shoved out for incompetence, in alliance with the national leadership of Association of Senior Staff of Banks Insurance and Financial Institutions (ASSBIF).
In response to the union’s allegations, the Fund said that “every contract goes through a laid-out process
Including NEEDS assessment before bidding, therefore the allegation of frivolous and white elephant projects being awarded and completed are baseless.
Before bidding, each contract in the fund is first assessed to identify its implications and applicability. The present E-NSITF is, in fact, compliant with the Federal Government’s e-business mandate and, as a result, was given the essential approvals by the Federal Executive Council (FEC) prior to implementation.
Okonkwo claimed that the previously approved new salary structure was found to be full of inconsistencies and ambiguous details, necessitating clarification that will require time for proper computation.
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The National Salaries Income and Wages Commission (NSIWC), which is handling this, has promised to fix the inconsistencies and re-issue a 2023 wage structure that will still take effect from January 2023.
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