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The Nigeria Social Insurance Trust Fund (NSITF) is an institution that is fully responsible for the control of the welfare of employees for work related accidents and injuries. The Employee Compensation Scheme is a form of social insurance method which provides that there should be adequate and timely compensation for employees who suffer diseases or injuries in the course of employment
It is worthy to note that the NSITF is applicable to all employers and employees in both the private and public sector in Nigeria. The employers make contributions for their staff (at no cost to the employees) to the funds by virtue of a scheme known as called employee compensation scheme.
The employer rate of contribution is 1% of the total monthly payroll, consisting of the total emoluments.
Payment of any assessment due to NSITF shall be due on the 1st January in the year for which it relates.
It is a statutory obligation under the Employee’s Compensation Act for employers to and so failure to do so will amount to a breach of the law.
They are as follows:
Yes, you have to renew as the NSITF Compliance certificate is issued yearly to employers
The entire process takes 7 days before the NSITF Compliance certificate which is proof of registration can be issued. For renewal, the process takes 7 days before the certificate of compliance can be issued.
You can verify the Certificate of Compliance issued by the NSITF on their official website.
Bureau of Public Procurement (BPP) is the regulatory body responsible for monitoring, regulating, setting standards and developing the legal framework and professional capacity for Public Procurement in Nigeria.
The Bureau of Public Procurement certificate is issued to all Contractors, Consultants and Service Providers (CCSPs) already doing or intending to do business with the Federal Government of Nigeria (FGN) to apply for the BPP Certificate.
It is part of the requirements before any organization can bid for a contract.
Yes, they are allowed.
BPP groups companies into areas of specialization and professionalism based on previous jobs done or intended to be done. Companies have 65 Categories for Works, 98 categories for Services and 49 categories for Goods to choose from. You will be required to select the jobs based on your areas of specialization and professionalism. Applicants are expected to submit the details of all jobs executed and fully completed in the last 5 years preceding the registration either in the private or public sector. Contractors, Consultants and Service Providers (CCSPs) are classified within classes A – E as defined in the classification model. It is possible for a company to have different classes for all the categories of businesses it is into.
The following documents are required by the commission from applicants:
It take approximately 1 week from when documents are submitted.
The PENCOM certificate is issued by the National Pension Commission (PenCom) which is the body that regulates, supervises and ensures the effective administration of pension matters in Nigeria.
Registration takes about 15 working days from the date of receipt for an application to be processed.
Industrial Training Fund (ITF) Compliance Certificate is a very important document which is required when applying for tenders, or any contracts in any Federal Government Ministries, Departments and Agencies (MDAs).
The requirements are:
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