…Faleye Outlines Vision for a Transparent and Resilient NSITF
For the many participants who attended the two-day retreat organized by the Nigeria Social Insurance Trust Fund (NSITF) in Lagos, the event has left lasting memories and a renewed sense of purpose. Themed “Building a Stronger NSITF,” the retreat attracted key stakeholders, including members of the Senate and House of Representatives Committees on Labour and Employment, who were keen to familiarize themselves with the operations and objectives of the NSITF.
The retreat commenced with a high-profile advocacy visit to the Governor of Lagos State, Babajide Sanwo-Olu. The NSITF’s new Managing Director, Oluwaseun Faleye, a seasoned lawyer and public intellectual, led the delegation. He was accompanied by the Executive Director of Finance and Investment, Adegoke Adedeji; the Executive Director of Administration, Professor G.O.C Okenwa; and the Executive Director of Mobilisation, Hon. Mojisoluwa Ali-Macaulay. Members of the Senate and House Committees on Labour and Employment, led by their respective chairmen, Senator Diket Plang and Hon. Adegboruwa Adefarati, were also present.
During the visit, Faleye appealed to Governor Sanwo-Olu to consider enrolling the Lagos State workforce into the Employees Compensation Scheme (ECS), arguing that Lagos’s participation would significantly bolster NSITF’s efforts to encourage other states to join the scheme. While acknowledging that Lagos State already offers a robust insurance package for its workers, Governor Sanwo-Olu expressed a willingness to explore further collaboration with the NSITF to enhance social security measures for Lagos workers.
At the retreat itself, Managing Director Oluwaseun Faleye, in his welcome address, emphasized that the NSITF under his leadership would overcome the challenges that have previously hindered the organization from realizing its full potential. He reiterated his commitment to transforming the NSITF into a “transparent, efficient, and resilient social security agency.” Faleye also revealed the Fund’s ambitious target of registering one million employers annually, a goal he believes will be more achievable with the support of legislators in the Fund’s advocacy efforts.
Faleye highlighted that the ECS process goes beyond rehabilitation and compensation of accident victims, stressing that the first stage in the process is accident prevention through Occupational Safety and Health (OSH) activities. This preventive approach is integral to reducing workplace accidents and ensuring the safety of employees across Nigeria.
The retreat garnered praise from key participants. Senate Committee Chairman on Labour and Employment, Senator Diket Plang, expressed his confidence in the new leadership of the NSITF, stating, “The new vision for NSITF presented by the Managing Director gives me confidence that the President has made a great choice in appointing the new leadership for the Fund. I have no doubt that NSIFT is in good hands and will grow in leaps and bounds, satisfying the yearning of Nigerians.”
His counterpart in the House of Representatives, Hon. Adegboyega Adefarati, echoed this sentiment, describing the retreat as “one of the best I have ever attended,” and noting the full participation of the House Committee on Labour members.
Senator Victor Umeh of Anambra Central concluded the remarks by commending Faleye’s leadership, stating, “From what you have presented to us this morning – all within one month of your resumption – it is obvious that you have a firm grip on your responsibilities in the NSITF.”
The retreat was a resounding success, fostering stronger collaboration between the NSITF and legislative bodies, and setting the stage for significant advancements in Nigeria’s social security landscape.