The Nigeria Employers Consultative Association (NECA) has lauded the Nigeria Social Insurance Trust Fund (NSITF) for its innovative measures aimed at repositioning the tripartite agency.
NECA’s director general, Adewale Oyerinde, extended the commendation during a recent working visit to the NSITF, where he emphasised the critical role the agency plays in stabilising the world of work.
NECA, alongside the organised labour and government, forms the tripartite ownership structure of the NSITF.
Oyerinde expressed appreciation for the innovative initiatives implemented by NSITF’s management over the past year, while he highlighted the positive impact on the fund’s stability and its openness to engage with stakeholders.
According to a statement issued by NSITF general-manager, corporate affairs, Nwachukwu Godson, in Abuja yesterday, Oyerinde pledged continued support of the Organised Private Sector(OPS) to the fund as social partners despite the turns in the national economy.
He also addressed concerns regarding the new federal government policy on 50 per cent deduction of Gross Inflow under the Fiscal Responsibility Act, which has asserted NECA’s stance that contributions to the NSITF are not government revenue.
Oyerinde pledged NECA’s support for NSITF’s efforts to hold defaulting employers accountable and applauded the fund’s recognition for winning the NECA 2023 Award in the best service delivery category.
In response, NSITF managing director Maureen Allagoa hailed NECA as the fund’s most reliable social partner in administering the Employees’ Compensation Scheme (ECS).
She expressed gratitude for NECA’s support and partnership, acknowledging the significant contributions of the organised private sector, which NECA represents, to ECS funding.
Allagoa affirmed NSITF’s commitment to consulting NECA on major decisions affecting both entities and outlined recent modifications made based on NECA’s advice, including adjustments to registration and compliance processes to improve efficiency and reduce turnaround time.
She urged NECA’s assistance in enforcing compliance with ECS regulations, particularly regarding the 1 percent deduction from total remuneration.
Allagoa highlighted ongoing digitisation efforts aimed at streamlining operations and enhancing service delivery through the E-NSITF platform, which is expected to expedite processes to within 48 hours.
