RG1-15F :  Eliminate Mandatory Registration with Employees’ Old-Age Benefit Institution (EOBI) for micro/ small organization [5-9 employees] 
Reform ID   F081
Reform Description  Before: All businesses having at least 5 employees were required to register with the Employees’ Old-Age Benefit Institution (EOBI). 

After: Employees’ Old-Age Benefit Institution (EOBI) has exempted micro/ small organizations from mandatory registration. 

Sector  All Sectors  
Beneficiaries  All Small Businesses 
Jurisdiction/ Location  Federal  
Department  Employees’ Old-Age Benefit Institution  (EOBI) 
Date of Implementation  30-10-2021 
Timeline  Last 03 Months  
Details  Difficulty  The mandatory registration of micro/ small businesses with Employees’ Old-Age Benefit Institution (EOBI) was an additional regulatory and compliance burden on these businesses.  
Analysis  It was felt that the mandatory registration of small businesses with the Employees’ Old-Age Benefit Institution (EOBI) is an additional burden on these businesses as their business outlay is not enough to comply with the EOBI regulations. This condition was also not in line with practices in neighboring countries. 
Solution  Employees’ Old-Age Benefit Institution (EOBI) has issued a circular dated 30-10-2021 which exempted the micro/small businesses from mandatory registration, however, interested businesses can still register with EOBI through optional registration. .  
Evidence  EOBI Circular  

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