ITF Reimbursement Service
Is your company paying the mandatory 1% annual payroll contribution to the Industrial Training Fund (ITF) without recouping the eligible 50%?
We provide expert consultancy services to simplify the ITF reimbursement process and secure up to 50% of your refund, with no upfront costs. We only get paid when you do.
Brief on Industrial Training Fund (ITF)
The Industrial Training Fund (ITF), established in 1971, mandates that Nigerian employers with 8 or more staff contribute 1% of their annual payroll. This contribution funds direct training, vocational and apprentice programs, research, and consultancy services. Importantly, employers can recoup up to 50% of their levy by meeting specific employee training investment requirements.
However, a significant portion of Nigerian employers face challenges:
Approximately 80%: Pay the mandatory levy but do not claim reimbursements.
Roughly 5%: Successfully claim full reimbursements.
About 5%: Make partial payments, risking penalties.
Around 10%: Fail to comply with the payment requirement.
The reasons for this include:
- Complex procedures for submitting training records and documentation.
- Lack of dedicated in-house skills development coordinators.
- Distrust in the reimbursement process due to delays.
- Inadequate systems for managing training records.
Our consultancy services simplify the ITF reimbursement process, ensuring a smooth up to 50% recoupment with no upfront fees.