About Employment Creation Fund
NASEN with Employment Creation Fund (ECF) is designed to align with existing policies and projects of some government agencies and is expected to be highly effective because it locates potentials even as making funds accessible remains part of NASEN’s primary objectives.
NASEN intends to enter into agreement with the federal and state governments of Nigeria in order to establish the Employment Creation Fund (ECF) or alternatively NASEN Investment Bank (NIB).
Nigerian economic system has been studied to a large extent by some experts under the supervision of NASEN and their analysis have shown that if the government continues to create what is seen as direct job i.e. “civil service job”, the Nigerian recurrent expenditure will continue to rise and such will not help the nation’s economy.
All over the world, no nation has ever recorded growth based on recurrent expenditure. Nations that have improved on their economic growth are those that made policies that aid and promote entrepreneurship and other forms of businesses. These countries equally provide enabling environment for businesses to thrive.
Findings by the experts through their study shows that lack of trust in business communication-transaction leads to all forms of insecurity and this insecurity is found in an average African and due to the Nigerian population, the threat seems to be more visible, and it affects all aspect of business and therefore affects the nation’s economy.
There is a solution here, which we have referred to as “corporate trust”, it is obvious that it has become difficult to trust a human person especially from this part of the world (Africa) and to be specific, Nigeria, not because they are not good people, but because their environment has made it inevitable and difficult for them to be trustworthy, thus our belief that “corporate trust” is the solution.
NASEN has come to implement and promote a dual strategy, using social security identity card to regulate these strategies are referred to as:
- Corporate Trust
- Systemic Network (Cashless Network/Transaction Tracking)
The above stated strategies have been identified as alternative key to Nigerian socio-economic development. This is expected to build a foundation for sustainable economic growth in Nigeria that can be emulated by other African countries.
- Corporate Trust is an alternative form of communication which removes trust as a responsibility on an individual, but on an institution such as NASEN.
- Systemic Trust (Cashless Network) is a process that discourages cash exchange in transactions of any form, but rather promotes the cashless policy of the CBN which will help NASEN monitor and regulate the activities of her members and card holders across the globe, using her social security identity card (SSIC)
What Nigerians need at this point is an enabling environment that will promote the activities of self-employed people and re-direct attention from “direct jobs” often referred to as civil service job or white collar jobs, which keep recurrent expenditure on the increase. In other words, the federal government under President Muhammadu Buhari can reduce recurrent expenditure while improving productivity if NASEN is given every necessary support.
If the Nigerian economy must grow, Nigerians must adopt a system that promotes taxation; adopt policies that will promote personal income generation (PIG) and mechanisms that will trace crime etc. NASEN must be established in this capacity and in partnership with the federal government, its institutions and must be absolutely independent.
(NASEN) National Association of Self-Employed Nigerians is an association of all self employed people in Nigeria, registered affiliate members are encouraged.
These set of people are employers of labour, traders, owners of micro, small and medium enterprises and other forms of business including technicians, artisans and service providers, these set of people do not depend on or earn anything from the government but can become immense contributors to the enlargement of government revenue base.
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