Onyebuchi Ezigbo
22 August 2008
Abuja — Nigeria Social Insurance Trust Fund (NSITF) and Social Security National Insurance Trust (SSNIT) of Ghana, have agreed to work together to establish an International Social Security Training outfit for the benefit of the sub-region and the continent.
Managing Director/CEO of NSITF, Dr Enukora Joe Okoli, said the two bodies arrived at this during the five-day study tour of SSNIT's operations.
He said under the agreement, the two heads would make joint applications for partnership funding from world bodies and international donor agencies for the benefit of the two countries.
It was also agreed that SSNIT and NSITF would continue sharing capacity aimed at building world-class social security institutions dedicated to economic security of workers in both countries.
Director-General, SSNIT, Mr Kwasi Osei, expressed the probability of NSITF overtaking SSNIT, considering its enormous resources and pedigree.
SSNIT is a statutory public trust charged with the administration of Ghana's National Pension Schemes. The Scheme is currently the largest non-banking financial institution in the country and the single institutional investor on Ghana's stock exchange that is helping to nurture development and sustenance of capital market in Ghana.
It is self-financing, through contributions of employers and employees, totalling 12.5per cent and five per cent of the basic salary respectively.
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