By Victor Ahiuma-Young

In a significant step towards enhancing compliance with the Employees’ Compensation Scheme (ECS) and strengthening Nigeria’s social security framework, the Nigeria Social Insurance Trust Fund (NSITF) has proposed a strategic data-sharing partnership with the Corporate Affairs Commission (CAC).

A statement by NSITF’s Head, Corporate Affairs Department, Alexandra Mede, informed that the collaboration was proposed during an inter-agency engagement meeting at the CAC headquarters in Abuja. 

Managing Director of NSITF, Olúwaceun Faleye, who led a delegation of top management staff on a courtesy visit, said the alliance would facilitate better access to data on registered businesses and improve enforcement of the ECS.

Faleye praised the CAC’s role as Nigeria’s central repository of corporate data and said the Fund hoped to leverage this position to reach more employers of labour and increase awareness and compliance with the scheme.

He said “The collaboration with CAC is aimed at building a resilient workforce by ensuring better service delivery and the prompt payment of claims and compensation,” Faleye said.

“Most importantly, we must understand the economic ramifications of this social safety net. If we do, then we begin to appreciate why a collaborative engagement with the CAC will be invaluable. Providing workers with the assurance of compensation in the event of workplace injuries, diseases, or fatalities would not only protect them but also enhance national productivity.

“When workers know they’re covered in the event of an accident or injury, it boosts their morale and productivity. That is the essence of a social safety net—it supports the workforce and, by extension, strengthens the economy.”

Faleye also highlighted several benefits of the proposed partnership, including increased awareness among CAC staff about the ECS and reduced workplace hazards through occupational safety and health (OSH) audits.

According to him, “One of the key benefits of our engagement is sensitization on health and safety practices in the workplace. We also conduct OSH audits at no cost.”

He commended CAC for already enrolling its employees in the ECS, adding that the NSITF’s mandate includes not just compensation but also proactive measures to ensure workplace health and safety.

“The mandate of NSITF covers adequate and transparent compensation and support for Nigerian workers in times of workplace injuries, diseases—including mental health issues—and death,” Faleye stressed.

Responding, the Registrar-General of the CAC, Hussaini Ishaq Magaji, lauded the initiative and expressed optimism about its impact on the Nigerian economy.

“You are meeting the largest regulator of the Nigerian economy.” 

All entities operating within the economy are registered and regulated by the CAC,” Magaji stated.

“This collaboration is important. It speaks to compliance and holds immense potential benefits for our country,” he added.

The engagement is part of a broader initiative by the NSITF management to expand Nigeria’s social security coverage and foster a more resilient and productive economy.