Business
NSITF Appoints Mainstreet As Collecting Bank
The Nigerian Social Insurance Trust Fund (NSITF) has appointed Mainstreet Bank Limited as the collecting bank for benefits nationwide in line with the Employee Compensation Act, according to a statement by the bank, recently.
This came on the heels of the Federal Government’s determination to halt the disturbing trend of non-compensation of employees involved in workplace accidents.
The NSITF, by this appointment, empowers Mainstreet Bank to receive remittances under the NSITF Employee Compensation Act scheme from employers of labour (both public and private sector organisations) at any Mainstreet Bank branch nationwide.
The statement quoted the Executive Director, Operations, Mainstreet, Mr. Anogwi Anyanwu, as saying, “Mainstreet Bank has built a tradition of service excellence and the NSITF mandate as well as various others, is a strong testimony of our renewed resolve to consistently offer our stakeholders the best deal.
“The bank recently deployed one of the latest and most robust core banking application, Finacle 10, to improve our products and services, and especially to delight stakeholders with innovative solutions to their business needs.
“I can give employers and the general public the assurance that Mainstreet Bank is ready to support NSITF to achieve its mandate in Employee Compensation Act collections,” he said.
NSITF, the successor to the defunct National Provident Fund, is the sole government agency statutorily vested with the function of providing social security, social protection for the poor, the aged, the disabled and disadvantaged members of the population.
Over the past two years, Mainstreet Bank said it had been successful in the collection business, enjoying several mandates from the Federal Inland Revenue Service, Nigerian Customs Service, Federal Road Safety Corps, Digital Satellite Television and Power Holding Company of Nigeria.
Others, according to the bank, are airlines book-on-hold, vehicle registration, Lagos State Government, other state governments and a number of other mandates from the government and the private sector.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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