NSSF

National Social Security Fund

National Social Security Fund (NSSF)

This is an electronic way of processing employees’ contributions onto their National Social Security Fund (NSSF) accounts with minimal manual interventions. It involves a straightforward process of remitting members’ contributions from the employer through the Centenary Bank to NSSF.

How it works

The employer uploads employees’ contributions onto the NSSF Portal. Thereafter, a transaction reference number is generated which is presented at  a  UBA branch for payment. The Bank teller enters the reference number into the system and the details are retrieved/displayed. Upon confirmation of the employees’ details, the payment is then posted. Immediately posting is done, there is instant notification and update onto employees’ accounts with NSSF.

 

 

Benefits

  • Payment system enables real time reconciliation between the Bank and NSSF
  • Improved data quality and faster update of the employee accounts with NSSF