1.4 Other payroll costs

Commentary

1.4.1 Nigerian Social Insurance Trust Fund (NSITF)

Nigeria
Nigeria | Commentary

1.4.1 Nigerian Social Insurance Trust Fund (NSITF)

Nigeria | Commentary

1.4     Other payroll costs

Employers must contribute to the:

  1.  

    •     Nigerian Social Insurance Trust Fund (NSITF), see 1.4.1

  2.  

    •     Industrial Training Fund (ITF), see 1.4.2

1.4.1     Nigerian Social Insurance Trust Fund (NSITF)

This is an employer only contribution.

The Nigeria Social Insurance Trust Fund (NSITF) applies to all employers and employees in the public and private sectors. There is no employee headcount requirement for companies, but for sole trader businesses there must be five or more employees for NSIF contributions to apply.

The Employee Compensation Act (ECA) 2010 is the governing legislation.

The NSITF provides coverage to employees

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1.4.1 Nigerian Social Insurance Trust Fund (NSITF)