The Nigeria Social Insurance Trust Fund (NSITF) says it is scaling up its internal risk management systems as part of ongoing institutional reforms aimed at improving efficiency, transparency, and service delivery across its nationwide operations.
Managing Director/Chief Executive, Barrister Oluwaseun Faleye, gave the assurance when he received a delegation from the Chartered Risk Management Institute (CRMI), led by its Chief Registrar, Victor Olaninye, during a courtesy visit to the Fund’s headquarters in Abuja.
Faleye said a robust risk management structure is critical to building a more resilient and responsive NSITF capable of fully executing its mandate in Nigeria’s social security space.
According to him, the Fund is already identifying areas of partnership with the Institute, particularly in upskilling its personnel.
“We can build the sort of understanding and sustainability required for a much more resilient Fund,” Faleye said. “I see many ways we can collaborate, particularly in expanding and developing the capacity of our members, whether in the risk department or Fund-wide.”
He also encouraged CRMI to mainstream the Employees’ Compensation Scheme (ECS) into its training curriculum to deepen awareness — especially within the financial sector — of social protection tools that help organisations manage operational and workforce-related risks.
Faleye noted that increased stakeholder education on the ECS remains essential to supporting businesses in safeguarding their most valuable resource: their employees.
In his response, Olaninye commended the NSITF leadership for its support and participation in CRMI’s 24th Annual International Conference. He described Faleye’s steering of the Fund as “transformative and highly professional,” and reaffirmed the Institute’s readiness to deepen collaboration aimed at advancing national development and promoting excellence in risk management.
About the Author
