Members of the National Assembly and the Nigerian Social Insurance Trust Fund (NSITF) leadership have called for a review of the Presidential Directive on a 50 percent Automatic Deduction from Internally Generated Revenue of Federal Government Owned Enterprises.
Speaking at the two-day NSITF retreat for the Senate and House Committee on Labour, Employment and Productivity, the Lawmakers agreed that the NSITF is also not treasury-funded, does not draw from the Consolidated Revenue Fund of the Federation and ought to be removed from the schedule of the Fiscal Responsibility Act.
They called on the MD of the Fund, Faleye Oluwaseun to step up efforts to classify the Trust Fund as a non-revenue-generating agency
The NSITF Boss said the agency’s management was in the Lagos state on a two-day retreat to discuss collaborating with lawmakers to achieve its objectives. The NSITF was set up to formulate the employer scheme where the Fund provides cash and non-cash support to injured or deceased workers arising from hazards from their work activities.
— Cyril Fasuyi – Lawmaker
—Faleye Oluwaseun- MD/CE, NSITF
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