NSITF to expand its risk management framework for effective social security delivery

By Johnbosco Agbakwuru

ABUJA– THE Nigeria Social Insurance Trust Fund, NSITF, has reiterated its commitment to expand its risk management framework to ensure that the Fund becomes more efficient and effective on delivery of its mandate on social security in Nigeria.

Managing Director and Chief Executive of the Fund, Barr. Oluwaseun Falaye, stated this when he received on a courtesy call, leadership of the Chartered Risk Management Institute at the Abuja Corporate headquarters of the NSITF.

According to Faleye, “we can build the sort of understanding that is required and the sustainability that requires for a much more resilient Fund.

“I see a lot of ways that we can collaborate particularly in expanding or developing the capacity of our members, either from the risk department itself or even, Fundwide.”

The Managing Director, told the CRMI leadership led by its Chief Registrar, Dr Victor Olaninye, to incorporate the Employees’ Compensation Scheme into its curriculum to further deepen understanding and awareness in the financial sector especially.

He said: “My thought is that in deepening the knowledge about Employees’ Compensation Scheme within your curriculum because of the risk involved in lack of social safety net to a business.

“It is important in building resilience to educate all stakeholders of the need to safeguard their most important assets, which is the workers.”

Responding on behalf of the CRMI team, Dr. Victor Ọlaninye thanked the NSITF boss for granting them audience and for the Fund’s participation in the Institute’s 24th Annual International Conference.

He commended Faleye and his Management team for the achievements recorded since his assumption of office in July 2024.

“The professionalism and transformative leadership you bring to NSITF are truly commendable. We applaud the progress you are driving,” he said.

He affirmed the Institute’s readiness “to collaborate with you in further advancing national development and strengthening the culture of excellence in risk management.”

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