The Senate is now considering a proposed change to the Nigeria Social Insurance Trust Fund (NSITF) Act, which the Organized Private Sector of Nigeria (OPSN) has vehemently opposed. The proposed changes could compromise the integrity of the Fund and expose it to political manipulation, according to the OPSN, which is made up of the Manufacturers Association of Nigeria (MAN), the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Association of Small and Medium Enterprises (NASME), the Nigeria Association of Small Scale Industrialists (NASSI), and other employers’ federationsThe directors-general of the five OPSN member organizations signed a joint letter to the president of the Senate warning that the proposed amendment, which has passed second reading, poses a serious threat to the Fund’s long-term viability, accountability systems, and tripartite governance structure.
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