The Nigeria Social Insurance Trust Fund (NSITF) has paid a total of N11 million in death benefits to the family of a late Unity Bank employee who died in a road accident while on official assignment.
Speaking at the cheque presentation in Lagos, NSITF Managing Director, Mr Oluwaseun Faleye, explained that the payment covered over 20 months of outstanding entitlements. He added that, in addition to the lump sum, the bereaved family would receive a monthly stipend of N508,000 until the deceased’s youngest child turns 21.
Faleye noted that this was the sixth claim settled under the Employee Compensation Scheme (ECS) for Unity Bank staff. He praised the bank for its consistent compliance with the Employee Compensation Act by registering its employees under the scheme, describing the payout as “the fruit of the bank’s commitment to workers’ welfare.”
Reiterating the Fund’s core mandate, Faleye assured that NSITF remains committed to promoting occupational safety and ensuring adequate compensation for workers or their families in the event of workplace-related injury, illness, or death.
In response, Unity Bank’s Managing Director, Mr Ebenezer Kolawole, expressed appreciation to the NSITF for its responsible and consistent support for Nigerian workers. He reaffirmed the bank’s ongoing commitment to employee welfare and its partnership with the NSITF.
The payout reflects the broader aim of the ECS to provide financial support to Nigerian workers and their dependents in times of work-related hardship.
