I was at the Industrial Training Office today at Kudirat Abiola Way, Ikeja to inquire how to register my newly registered company for possible remittance of annual ITF levy when we commence operation of our services in Nigeria and I was shocked when I was told that the amount to be paid for registration is N50,000.00 (Fifty Thousand Naira) contrary to the 1% of the total summed annual salary per annum on payroll that is quoted on the website of ITF as the statutory fee. Main while the 1% of my total summed salary is not upto N20,000.00 yet.

Can someone confirm if this N50,000 is the right payment or they are defrauding the innocent young entrepreneurs in Nigeria ??

You are absolutely right!

If you submit your prepared audited reports, its supposed to be 1% of your annual staff costs.

But in practice, this year 2017 most ITF offices dont collect less than 40,000 Naira as annual levy. They claim they have an internal memo to that effect.

sholatech:
You are absolutely right!

If you submit your prepared audited reports, its supposed to be 1% of your annual staff costs.

But in practice, this year 2017 most ITF offices dont collect less than 40,000 Naira as annual levy. They claim they have an internal memo to that effect.

Is this not fraud? The amount paid is suppose to be stutorily ammended if there is need. How can this be happening under Baba Buhari watch? The N50k is ilegal and they should refund it immediately