THE NIGERIA Social Insurance Trust Fund, (NSITF) and the Corporate Affairs Commission (CAC) are partnering on data sharing to enhance compliance to the Employees’ Compensation Scheme.
Mr Olúwaṣeun Faleye, Managing Director of NSITF, disclosed this during an inter-agency engagement between the Fund and CAC on Wednesday in Abuja.
Faleye who acknowledged the leading role of CAC as a repository of corporate data in Nigeria commended the trust the commission has built overtime.
He said that the Fund could leverage on the established trust to reach employers of labour and enhance compliance to the Employee Compensation Scheme.
Faleye added that the collaboration would mean, building a resilient workforce, stimulating better service delivery and ensuring claims and compensation are paid promptly.
He said the partnership with the CAC would include awareness of their staff members on the benefits accruing to them by complying to the Employees´ Compensation Scheme.
According to him, the partnership will minimise workplace hazards through occupational health and safety audits
The NSITF boss commended CAC for complying with the Employee Compensation Act.
Mr Hussaini Magaji, the Registrar General of CAC, said the collaborative efforts will have huge impact on the country’s economy.
“You are meeting the largest regulator of the Nigerian economy.
“The Nigerian economy is operating through entities that are under the control of the Corporate Affairs Commission.
“Our responsibility is to register these businesses, supervise them, and regulate them.
“This collaboration is important as it relates to compliance and the huge benefits to our country,” he said.
The News Agency of Nigeria (NAN) reports the engagement meeting is a continuation of a series initiated by the NSITF Management to expand social security towards a more resilient economy. (NAN)
