Mr Joseph Ari, the Director-General of Industrial Training Fund (ITF), on Wednesday said that the Fund paid N6,587, 941, 996 to 510 companies as contributory reimbursement in 2018.
Ari, who was represented by Mrs Ifeyinwa Anozie, the Calabar Area Manager of ITF, said this during an interaction with journalists in Calabar.
He said that this was in line with the management’s resolve to ensure that all contributing employers that remitted their contributions to the Fund were reimbursed provided they met the conditions for such reimbursement.
“In all, a total of 510 companies were reimbursed to the tune of N6, 587,941,996, which is the biggest payout to contributing employers as reimbursement in a calendar year since the establishment of the ITF,” he said.
The director-general said that the Fund was committed to reimbursing all contributors provided they met the required conditions for payment.
According to him, before qualifying for reimbursement, contributory employers must pay in full their annual training contribution, training of their workforce across all cadres, and presentation of evidence of training.
He said that acceptance of students on the Students Industrial Work Experience Scheme (SIWES) and application for reimbursement within the stipulated period were among the requirements for payment.