Two major workers’ unions within the Nigeria Social Insurance Trust Fund (NSITF) — the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) — have thrown their weight behind the ongoing amendments to the NSITF Act (1993) and the Employee Compensation Act (ECA, 2010) currently before the National Assembly.
In a joint letter addressed to the Minister of Labour and Employment, Dr. Muhammadu Dingyadi, the unions described the amendments as long overdue and essential for strengthening the Fund’s operations. The letter was signed by Bala Tijani, President of the ASSBIFI NSITF unit; Godwin Ekpah, its General Secretary; Simon Wenzamma, Chairman of the NUBIFIE NSITF branch; and Miller Gudopwa, Secretary.
The unions commended the NSITF management team, led by Managing Director, Barrister Olúwaseun Faleye, for what they termed the ongoing “reconstruction and re-engineering” of the Fund to achieve its strategic goals. They expressed confidence that the proposed amendments would enhance the agency’s efficiency and improve service delivery to Nigerian workers.
According to the unions, “The amendments are geared toward empowering the Fund, clarifying ambiguities, resolving conflicting provisions with other legislations, and providing a firm framework for NSITF’s operations. These reforms will strengthen the Fund’s capacity to serve as a safety net for workers who suffer injuries, sickness, disability, or death in the course of their duties.”
The unions also voiced optimism that once passed, the amended Acts would make the Fund more accessible and better equipped to fulfill its mandate. They pledged continued support for the management while condemning what they described as “misleading actions and blackmail” by individuals attempting to undermine the Fund’s reform process for personal gain.
In the same statement, ASSBIFI and NUBIFIE endorsed the management’s decision to terminate a digitalisation contract they alleged was fraudulent and lacking in value. They noted that the digital platform, introduced under previous leadership, had been widely rejected by end users due to technical flaws and inefficiencies.
“The cancellation of the contract prevented further waste of public funds and reflects management’s commitment to transparency and accountability, in line with President Bola Tinubu’s transparency agenda,” the unions said. “It is a bold and necessary step that deserves the support of all stakeholders.”
The unions urged the Minister of Labour to continue supporting both the ongoing legislative amendments and the management’s reform agenda, which they believe will reposition NSITF as a cornerstone of workers’ welfare and protection in Nigeria.
