The Nigerian National Pension Commission (PenCom) recently designed, developed and deployed an Enhanced Contributor Registration System (ECRS) which went live on 24 June 2019 after a pilot test. The ECRS is an advancement of the Contributor Registration System (CRS), which is used for the registration of participants of the Contributory Pension Scheme (CPS) in Nigeria.

The PenCom introduced the ECRS to eliminate the challenges faced with the existing CRS. One being the lack of comprehensive and reliable data for all participants in the CPS.

The following functionalities have been installed in the ECRS:

• An electronic platform for the submission of requests by the Pension Fund Administrators (PFAs), for the registration of unique contributors and issuance of Personal Identification Numbers
• An electronic platform for PFAs to carry out bio-data updates and edit clients' information on the National Databank maintained by the PenCom
• A platform for the registration of Micro Pension Plan Participants and Cross-Border individuals i.e., contributors living abroad and foreigners living in Nigeria who are willing to partake in the CPS
• A platform for the electronic submission of employer code requests by PFAs and automation of the process of issuing employer codes
• A more dynamic and user-friendly interface
• An interface with the National Identity Database maintained by the National Identity Management Commission (NIMC), for authentication of the uniqueness of individuals seeking to register under the CPS

The PFAs have commenced with the updates and contributors are advised to provide their PFA with their National Identification Number, Bank Verification Number as well as other required information.

The integration of the new system with the various identity platforms in the country is expected to effectively combat identity theft and prevent fraud within the industry since it should provide the opportunity for a cleanup of the existing database. Further, the new system is expected to provide contributors with the opportunity to switch from one PFA account to another with ease.

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CONTACTS

For additional information with respect to this Alert, please contact the following:

Ernst & Young Nigeria, Lagos

• Akinbiyi Abudu
  akinbiyi.abudu@ng.ey.com
• Temitope Samagbeyi
  temitope.samagbeyi@ng.ey.com
• Chinyere Ike
  chinyere.ike@ng.ey.com
• Zion Athora
  zion.athora@ng.ey.com
• Oluwatumininu Familusi
  oluwatumininu.familusi@ng.ey.com
• Joy Chijioke
  joy.chijioke@ng.ey.com

Ernst & Young Advisory Services (Pty) Ltd., Africa ITS Leader, Johannesburg

• Marius Leivestad
  marius.leivestad@za.ey.com

Ernst & Young LLP (United Kingdom), Pan African Tax Desk, London

• Rendani Neluvhalani
  rendani.mabel.neluvhalani@uk.ey.com
• Byron Thomas
  bthomas4@uk.ey.com

Ernst & Young LLP (United States), Pan African Tax Desk, New York

• Brigitte Keirby-Smith
  brigitte.f.keirby-smith1@ey.com
• Dele Olagun-Samuel
  dele.olaogun@ey.com

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ATTACHMENT

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