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