Business

NSITF, NECA Inaugurate Committee On Safety

Published

14 years ago

April 18, 2012

The Nigeria Social Insurance Trust Fund (NSITF) in collaboration with the Nigeria Employers Consultative Association (NECA), on Wednesday in Abuja, inaugurated a joint committee on safety in the workplace.

Inaugurating the committee, the Chairman Board of Directors of NSITF, Dr Mrs Ngozi Olejeme said the committee would effectively implement the safe work intervention project of the fund.

She said the committee would ensure compliance with the Employees’ Compensation Act (ECA) and acceptance of the scheme by employers of labour.

Olejeme said that NSITF and NECA would work together on the project to conduct regular audit of Occupational Health and Safety Infrastructure to ascertain the level of compliance with existing laws.

She explained that the two organisations, through the committee, would no longer take lightly issues bothering on non-compliance with the ECA.

“The joint committee is to identify and intervene appropriately in improving the health and safety infrastructure of companies/employers, which facilities fall below acceptable standards.

“The committee is to execute capacity building programmes on an on-going basis for contributors to the scheme.

“It will also conduct annual employer/NSITF interactive forum in the six geo-political zones of the federation to facilitate compliance and prompt payment of contributions.”

She disclosed that an annual employers’ forum would henceforth be organised and employers who complied with the scheme would be recognised and rewarded.

Olejeme said that NACA would function as the project’s manager and would spearhead the implementation of the scheme.

She blamed the inability of the project to take off in the first quarter of 2012 as scheduled on budgetary constraints and urged the committee to ensure that they made up for the time lost.

In his remark, the Director-General of NECA, Mr Olusegun Oshinowo, said that the project was inspired by the realisation that human capacity was the most valuable asset in any business.

He stressed that the focus of NECA and NSITF was now more on the safety of workers and prevention of accidents, rather than on the payment of compensations in the event of accidents.

He said it was based on the understanding that no amount of money could replace a lost limb or life lost.

“To any business, the human capital is the most valuable asset and as your most valuable asset, common sense and enlightened self-interest dictates that you pay special attention to that very valuable asset.

“That is what has informed NECA’s interest in this project.

“Under this new dispensation of employees compensation act, our focus should be on safety: the objective of this programme is for us to make sure that we reduce to the barest minimum the incidence of injuries in the workplace.”

Oshinowo said that there shall be no hiding place for employers who failed to comply with the ECA.

“This project would make sure that it conducts audits on a regular basis of factory facilities that are on ground.

“There will be no hiding place for any employer that that has not prepared to either comply with the employees’ compensation Act or comply with the factory act.”

The Managing Director of NSITF, Alhaji Umar Abubakar, on his part, pledged the commitment of members of the committee to the success of the scheme.

Also speaking, Mr Tunji Olaopa, the Permanent Secretary in the ministry of labour, emphasised the importance of human capital development to the development of any nation.

He pledged the commitment of the ministry to ensuring the successful completion of the project.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

10 hours ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

10 hours ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

6 days ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.