News report: BCCEC urges NIB to ensure records being used to justify non-compliance are accurate

BCCEC
Jun 25
2 min read

Published by Youri Kemp, The Nassau Guardian, June 25, 2025

The Bahamas Chamber of Commerce & Employers’ Confederation (BCCEC) is urging the National Insurance Board (NIB) to make sure its records are accurate and up to date when approaching businesses on allegations of NIB contribution noncompliance.

Dr. Leo Rolle, executive director of the BCCEC, told Guardian Business yesterday via Whatsapp: “While we support the fiscal responsibility behind and push toward compliance of members who may be non-compliant, we caution the board to ensure that the records being used to justify non-compliance are accurate and up-to-date, to avoid frustration and backlash from the business community.”

NIB’s director Tami Francis said that the board is aggressively pursuing non-compliant businesses, as she noted a sustained challenge with the fund paying out more monthly than it is taking in. Francis made these comments during NIB’s walkabout on Monday morning to businesses in the southwest part of New Providence. She also said teams of inspectors from NIB’s compliance department are being deployed to visit non-compliant employers as part of the Compliance Performance and Recovery (CPR) initiative.

NIB has faced issues with outstanding debts owed by government agencies and private sector employers. While the government has reduced its debt to NIB, some government agencies remain delinquent, and there are also concerns about private sector employers failing to make the required contributions. Despite contribution increases, NIB has faced challenges in managing its overall debt.

Rolle continued: “Additionally, while we note a lesser show of force with this team as opposed to the revenue enhancement taskforce, we implore the board to ensure that the effort is not perceived as heavy-handed and intimidating to businesses, and that communication and discourse, even with customers who are non-compliant, is respectful and in private to avoid breaches of confidentiality and disruptions in commerce.

“We remain open and available to continue the advocacy on behalf of our members by working in tandem with NIB and other governmental agencies.”

Alfred Sears, minister of immigration and national insurance, revealed in his budget debate contribution that NIB has a projected deficit of approximately $32 million for the 2024/2025 fiscal year.

Rolle further noted: “We have always and hope to continue to enjoy an amicable working relationship with NIB for the benefit of our members and the wider business community.”

Read the report here: https://www.thenassauguardian.com/business/bccec-urges-nib-to-ensure-records-being-used-to-justify-non-compliance-are-accurate/article_d2f6f444-9d50-4fbc-a021-f2372b2ee8ab.html