… Oluwaseun Faleye outlines plans to improve transparency and accountability in NSITF’s operations at FOCI’s AGM

The Nigeria Social Insurance Trust Fund (NSITF) is set to implement a series of reforms aimed at enhancing transparency and accountability within its operations.

This was announced by the Managing Director, Oluwaseun Faleye, during his keynote address at the Federation of Construction Industry (FOCI) 68th Annual General Meeting (AGM) in Abuja.

Faleye explained that under his leadership, the NSITF would adopt stricter measures to ensure that contributions made by employers are effectively managed and used for their intended purposes — compensating workers who are injured or fall ill as a result of their job.

“One of our primary objectives is to restore full confidence in the NSITF by improving our internal controls and increasing transparency at every level of the Fund’s operations,” said Faleye.

He noted that these reforms will not only benefit workers and employers but also ensure that the Fund is seen as a model of efficiency and integrity in the administration of public resources.

He called on employers, especially in high-risk industries like construction, to fully embrace the Employees Compensation Scheme (ECS) and ensure timely payments of their contributions.