NSITF Fulfills Statutory Mandate: Issues ₦86 million compensation cheque to Seplat Energy family .... Confirms ₦1.108m monthly support until child turns 21

"Our reforms are cutting processing times and ensuring that bereaved families receive what the law guarantees without delay.” Oluwaseun Faleye Esq, MD NSITF 

“Today’s payment underlines our mandate to provide real, timely protection for Nigerian workers in high-risk sectors such as oil and gas.”

“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.” Oladotun Isiaka, Managing Director, Seplat Energy.

A lump-sum Employees’ Compensation Scheme (ECS) cheque of ₦86,028,283.30 was on Thursday presented to Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited) by the Nigeria Social Insurance Trust Fund (NSITF) at Seplat House, in Lagos.

A statement from the Corporate Affairs Department, NSITF disclosed that the payment will be followed by the payment of ₦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,” he added.

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.

Oladotun Isiaka, Managing Director, Seplat Energy, welcomed the Fund’s swift action, stressing that, “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.”

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.

NSITF’s process overhaul, backed by President Tinubu’s Renewed Hope Agenda, has reduced turnaround times and expanded outreach to compliant employers.

After paying 22,350 claims in 2024 alone, the Fund has visited manufacturing, construction, maritime, and healthcare clusters this year to underscore the tangible value of ECS compliance.

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