By Omoniyi David
The Nigeria Social Insurance Trust Fund (NSITF) has attributed the delay in implementing pension increments for its retirees to the ongoing verification exercise of pensioners.
Managing Director of the Fund, Barr. Oluwaseun Faleye, disclosed this at the weekend when the management team hosted the Pensioners’ Executive Committee at the Fund’s corporate headquarters in Abuja.
Faleye, represented by the Executive Director of Finance, Samuel Ayodele Olufemi, admitted that pension matters have been a major challenge since he assumed office last year, describing them as issues that give him “sleepless nights.”
“The Managing Director wants to do it, but he wants to do it right. The main issue has been carrying out proper verification of pensioners,” Olufemi explained.
He noted that some beneficiaries are nearly a hundred years old, and that previous verification exercises were highly capital-intensive, as officials had to visit multiple locations while many pensioners claimed they could not leave their homes.
He added that the current management is working on a more cost-effective and efficient verification method.
During the meeting, the Pensioners’ Executive Committee presented key demands, including the implementation of the pension increment in line with a court judgment, enrolment of pensioners in the National Health Insurance Scheme (NHIS), and revival of the Pension Fund Board of Trustees.
Olufemi assured retirees of the Fund’s commitment to their welfare, emphasizing that the MD considers staff and ex-staff welfare a priority.
Chairman of the NSITF Pensioners, Aliyu Danlami, commended the Faleye-led management for the ongoing transformation in the Fund, while urging swift intervention to address pensioners’ concerns.
