The senate has passed for second reading a bill seeking to merge the Nigeria Social Insurance Trust Fund (NSITF) Act and the Employees’ Compensation Act into a single legislation.
Sponsored by Oluwole Fasuyi, senator representing Ekiti north, the bill seeks to repeal the NSITF act and the Employees’ Compensation Act, merging both into a unified framework under the proposed Nigeria Social Security Trust Fund (NSSTF).
Fasuyi said the measure is designed to harmonise existing laws on social insurance and workers’ compensation to eliminate duplication, enhance efficiency, and create a central institution for managing social security in Nigeria.
The senator said the proposed law would harmonise existing statutes on social insurance and employees’ compensation, eliminate duplication of functions, and create a unified legal framework for managing social security in Nigeria.
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