FG orders mandatory contributions for employees’ compensation by MDAs
The Federal Government has issued a circular for the commencement of the mandatory contributions of 1 percent of salaries of all public servants to the Employees’ Compensation Scheme of the Nigeria Social Insurance Trust Fund (NSITF). In a statement Sunday, the Managing Director of the NSITF, Barr. Maureen Allagoa, disclosed that the announcement was made […]
Social Investment Trust Fund NSITF
The Federal Government has issued a circular for the commencement of the mandatory contributions of 1 percent of salaries of all public servants to the Employees’ Compensation Scheme of the Nigeria Social Insurance Trust Fund (NSITF).
In a statement Sunday, the Managing Director of the NSITF, Barr. Maureen Allagoa, disclosed that the announcement was made by the government through a circular dated September 22, 2023 and signed by the Secretary to the Government of the Federation, Chief George Akume.
The circular stated that the Minister of Finance is directed to “deduct the contributions from source and remit same to the NSITF for the payment of claims and compensations to deserving beneficiaries for death, injury, disease or disability sustained in the course of duty as provided in the Employees’ Compensation Act, 2010, Act No. 13.” It further directed all ministries, departments and agencies to “ensure strict compliance with the circular,” Allagoa stated.