The Nigeria Social Insurance Trust Fund (NSITF) has said retirement security must be built during workers’ active years, stressing that individual planning alone cannot replace employers’ and institutions’ responsibility to protect workers.
Oluwaseun Faleye, Managing Director of the NSITF, said this on Thursday in Abuja at the 2026 National Pre-Retirement Summit.
The summit, themed “Own Your Retirement: From Planning to Action”, featured a policy dialogue on “Between Duty and Delivery”, focusing on social protection for Nigerian workers.
Faleye said retirement security was shaped long before workers exited employment through workplace safety, protection of earning capacity, compensation for occupational injuries and support for workers and their families.
“When we speak about retirement, we must begin much earlier than the point at which work ends.
“Retirement security is shaped during working life – by occupational risks, health, protection of earning capacity, compensation when harm occurs, and what happens to families when a breadwinner is lost,” he said.
He said the Employees’ Compensation Scheme (ECS) provides compensation for occupational injuries, diseases, disability and death, as well as medical care, rehabilitation and support for affected workers.
Faleye said the NSITF had enrolled more than 7.8 million workers under the scheme, up from 7.6 million in July 2026.
He added that the Fund had reduced its average claims processing time from 14 days to 10 days, as part of efforts to improve compensation and service delivery to workers.
“The first batch of five Treasury-funded MDA beneficiaries was paid on Aug. 4, 2026. This is turning Federal Civil Service protection into a lived reality,” he said.
Faleye said registration under the Employees’ Compensation Scheme alone did not guarantee protection for workers.
He urged employers to ensure regular contributions, accurate documentation of workers and timely payment of benefits.
“The system must be visible at the point of vulnerability. Claims administration, documentation, communication and inter-agency referrals should be designed around the beneficiary’s experience, with compassion, clarity and timely resolution,” he said.
According to him, the NSITF would strengthen workplace inspections, accident investigations, safety advocacy and rehabilitation programmes to prevent occupational hazards and protect workers’ health and earning capacity.
Faleye said effective social protection required shared responsibility among government, institutions, employers and workers.
“The State builds and regulates the architecture; institutions deliver within their mandates; employers comply and maintain safe workplaces; and workers understand, use and participate actively in the protections available to them,” he said.
He said the Fund remained committed to expanding coverage, strengthening compliance and improving coordination among relevant institutions.
Faleye stressed that retirement security should ultimately provide tangible protection for workers and their dependents, rather than remain a plan that begins only after employment ends.
