The National Insurance programme was established on December 12, 1972, with the signing into law of the The National Insurance Act, 1972. The National Insurance Board, the organization charged with administering the social security programme, opened its doors officially on October 7, 1974. Its primary mission was and is to provide income-replacement in respect of sickness, invalidity, maternity, retirement, death and industrial injury/disease.

Its added mission, in the administration of the country’s social security programme, is to provide assistance for needy citizens and to assist with the social and infrastructural development of the country.