• Privacy Policy
  • Terms
  • About us
  • Contact Us
Saturday, June 3, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Minister directs NSITF to re-adjust staff salaries

NSITF

The Matters Press by The Matters Press
January 24, 2022
Reading Time: 3 mins read
0
Minister directs NSITF to re-adjust staff salaries


The Minister of Labour and Employment, Sen. Chris Ngige, has given the management of the Nigeria Social Insurance Trust Fund(NSITF) January as deadline to re-adjust the salary structure of its employees.

RELATED POSTS

Avoid adverse effects of protectionism, IMF warns

NLC orders nationwide strike over fuel subsidy removal

We won’t fix petrol prices again – NMDPRA

Ngige made the disclosure during the closing ceremony of a two-day Management Performance Review Meeting, organised by the fund.

The directive is contained in a statement signed by Mr Charles Akpan, Deputy Director, Press and Public Relations of the ministry and made available to newsmen on Sunday in Abuja.

The minister said that the fund has three months to fully automate its operations.

He commended the new management of the fund for what he termed as “a new focus and work friendly environment”.

He noted that the conduct of the new team has justified the decision of President Muhammadu Buhari to relieve the immediate past management team of their responsibilities.

According to Ngige, in July 2020 the president approved the suspension and later removal of the former management of the NSITF after over three years in office, the fund’s savings was a paltry N2 billion.

ALSO READ  UNECA urges Africa to integrate protection of natural resources

“The Acting Management of Kelly Nwagha, who bridged the gap for less than a year, moved the savings to N8 billion.

“In six months, the current management under Mike Akabogu has moved it to N17 billion.

“The people they succeeded in office had only N2 billion in the account but left a liability, debts of over N30 billion,” he said.

The minister said he told them it was immoral for them to do so when some staff members could not afford house rents.

He said the strategic reform they set for themselves must be all-inclusive, an advice they heeded.

“We discovered very sadly that the NSITF has not re-adjusted staff salary but it is not the fault of this management but of preceding ones who did not think about the lowly placed persons.

“We discovered it and have given them an ultimatum to do so by the end of January and other incentives will follow and will be tied to performance.

ALSO READ  SEC, PenCom move to deepen commodity sector

“If you improve your contributions before the end of March, all your allowances will be reviewed,” he said.

The minister, however, urged the staff to buckle down as the new system would reward hard work, adding that the more target you meet in terms of returns, generation of contributions, the more the incentive.

Ngige also charged the management to fully automate the operations of the agency within three months, in line with global trends.

“Information on every aspect of this agency should prop up on the touch of a button. It saves cost, saves time , promotes synergy, efficiency and transparency which is a bulwark against fraud.

“You must achieve this in three months. Both ITF and FIRS are organisations you should be competing with, but they have left you behind,” Ngige said.

Ngige said that every contract must be in line with the Procurement Act and must be done based on NEEDS assessment , vowing that the era of procurement just for the sake of it was over.

ALSO READ  Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%

He implored the legal department of the fund to pick up the challenge and charge recalcitrant employers to court, directing that legal department be established in every branch.

He noted that additional recruitment of lawyers and accountants was done to firm up operations and there should be no excuses henceforth.

Ngige called for the re-enforcement of the Informal Sector Department of the agency as he described the informal economy as one whole opportunity waiting to be tapped for the social security benefits of all.

The Managing Director of the Fund, Dr Mike Akabogu, said the meeting was organised to ensure that branch managers were carried along on the new strategic management system.

He said the agency was being reformed to raise the bar of performance, hence the need for continuous cross-level engagement of the workforce to engender synergy needed for the achievement of target goals.

Tags: NSITF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Economy/Technology

Avoid adverse effects of protectionism, IMF warns

June 3, 2023
Unions celebrate Workers Day in Nigeria
Economy/Technology

NLC orders nationwide strike over fuel subsidy removal

June 3, 2023
July petrol pump price ranges between N140.80 and N143.80
Economy/Technology

We won’t fix petrol prices again – NMDPRA

June 3, 2023
Blackout hits Nigeria as grid collapses again
Economy/Technology

Tanzania to end frequent power blackouts in two years

June 2, 2023
FIRS deploys tech platform for tax collection
Economy/Technology

ECA calls for inclusive tax system to secure SDGs

June 2, 2023
Nigeria has not taken decision yet on fuel subsidy
Economy/Technology

PANDEF backs fuel subsidy removal

June 2, 2023
Next Post
Dangote petrochemicals, fertilizer plant will accelerate Africa’s economy- AfDB

Dangote petrochemicals, fertilizer plant will accelerate Africa’s economy- AfDB

NEPC trains150 youths on export

NEPC trains150 youths on export

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

NBS reports increase in Inflation

Nigeria’s inflation rate increases to 17.71% in May 2022- NBS

June 15, 2022
Buhari receives PTF on Covid-19

Buhari receives PTF on Covid-19

June 29, 2020
Nigeria’s suit against JP Morgan begins in London

Nigeria’s suit against JP Morgan begins in London

February 24, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Avoid adverse effects of protectionism, IMF warns
  • NLC orders nationwide strike over fuel subsidy removal
  • We won’t fix petrol prices again – NMDPRA

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?