UBA Scoops NASSIT Compliance Award
The United Bank for Africa (UBA) Sierra Leone on Friday 11th December, 2020 received the National Social Security and Insurance Trust (NASSIT) Compliance Award ‘for fully complying with the Provisions of the NASSIT Act No.5 for the 2020 Financial Year.’ The prestigious award ceremony took place at the Radisson Blu Hotel, Aberdeen Freetown during NASSIT’s Annual Employer Banquet and Award Ceremony chaired by the Minister of Labour & Social Security, Hon. Alpha Timbo.
The National Social Security and Insurance Trust is a Statutory Public Trust, charged with the responsibility of administering Sierra Leone’s National Pension Scheme by the National Social Security and Insurance Trust Act. No. 5 of 20th July 2001. Specifically, the National Social Security and Insurance Trust was established “to provide retirement and other benefits to meet the contingency needs of workers and their dependents and to provide other related matters” which UBA Sierra Leone has demonstrated for all its employees as part of its drive to make UBA the best place to work.
This is the Second Annual Awards NASSIT is given to employers and UBA Sierra Leone stood out as one of the recipients out of the 14 Commercial Banks that are operating in Sierra Leone for the Financial Year 2020.
Presenting the Award, the President of the Employers Federation of Sierra Leone who doubles as the Chief Executive Officer of the National Petroleum, Mr. Kobi Walker said that recognizing the UBA by NASSIT demonstrates the commitment of the bank in meeting the welfare of its employees. He called on other financial institutions to replicate what UBA is doing as that will serve as motivation for their employees.
“This award is a clear testimony that UBA is living up to its Mission of being a role model for African businesses by creating superior value for all our stakeholders, abiding by the utmost professional and ethical standards, and by building an enduring institution” said the MD/CEO UBA Sierra Leone Usman Isiaka, in an interview with the press after receiving the award.
The MD/CEO added that “wherever we operate as a bank, we ensure we work within the laws and regulations that govern our operations”. CEO Isiaka continued to say that the award is also a manifestation that there is a reward for compliance. This will make us do more in the area of compliance with laws and regulations from all regulatory authorities in the country, the Central Bank of Sierra Leone, Financial Intelligence Unit and National Revenue Authority (NRA) among other agencies as a member of a global financial institution that focuses on good corporate governance across all the 23 countries where it operates in Africa, USA, UK and France”, he said.
The MD/CEO in appreciation to all staff of UBA Sierra Leone, credited the award to the Human Capital Management (HCM) Department, Financial Control (FINCON), Operations, Compliance Control and Audit saying “this award is a reflection of our strong compliance culture and corporate governance process in UBA as a role model for African businesses.”
Congratulations UBA Sierra Leone.
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