The Nigerian federal government has officially established the newly appointed governing board for the Nigeria Social Insurance Trust Fund (NSITF). The board is chaired by Sola Olofin, and its members include representatives from the Federal Ministry of Labour and Employment, the Nigeria Employers’ Consultative Association (NECA), the Nigeria Labour Congress (NLC), and the NSITF managing director, Oluwaseun Faleye.
During the inauguration ceremony held in Abuja, Muhammad Dingyadi, the Minister of Labour and Employment, charged the board members with the critical task of revitalizing the NSITF to align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims for significant economic transformation.
The minister underscored the importance of transparency, accountability, and ethical leadership as fundamental principles for the board to adhere to. He also stressed the necessity of teamwork and collaboration in fulfilling the fund’s mandate, urging the board members to cultivate an environment of open communication and mutual respect.
“The NSITF holds a crucial position in safeguarding the welfare and protection of Nigerian workers by providing financial assistance during periods of hardship, as mandated by the Employees’ Compensation Act,” the minister stated. “I implore you all to maintain transparency, accountability, and ethical conduct in your decision-making processes.” In his inaugural address, Sola Olofin, the newly appointed NSITF chairman, committed to leading with integrity and transforming the fund into a globally respected social security organization.
The NSITF is more than just a government entity; it serves as a vital source of social security and protection for Nigerian workers,” he said. “Our objective is to guarantee that every worker receives the necessary compensation and support in the event of work-related injuries, disabilities, illnesses, or fatalities.”
