In a bid to enhance the security and welfare of workers in the informal sector, the Nigeria Social Insurance Trust Fund (NSITF) has begun moving to accommodate Agency Banking Operators and Financial Technology companies (FinTechs) in its Employees Compensation Scheme (ECS).
Speaking at a stakeholders’ sensitization session on the implementation of the ECS in the FINTECH Industry organized by NSITF, themed: “Enhancing Agency Banking and Mobile Money Operations through Employees Compensation Scheme (ECS)”, the Regional Manager, NSITF, Lagos Mainland Agbonma Okoroafor said: “With the rapid growth of technology-driven financial services, there is an increased responsibility on all stakeholders to ensure the protection and welfare of our employees who are the backbone of our industry.
The Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Mukhail Adetokunbo Abiru, said that agency banking operators face unique risks, including exposure to physical harm, financial loss, and occupational hazards, due to operating in remote or high-risk areas.
