The Nigeria Social Insurance Trust Fund (NSITF) has reaffirmed its commitment to strengthening its risk management framework to improve efficiency and enhance the delivery of its social security mandate to Nigerian workers.

Managing Director and Chief Executive of the Fund, Oluwaseun Faleye, stated this in Abuja while receiving the leadership of the Chartered Risk Management Institute (CRMI) during a courtesy visit.

Faleye said a stronger risk management culture was critical to building a more resilient and sustainable Fund, stressing the need for collaboration in capacity development across the organisation.

“We can build the sort of understanding that is required for sustainability and for a much more resilient Fund. I see many areas where we can collaborate, particularly in expanding the capacity of our members, not only within the risk department but Fund-wide,” he said.

The NSITF boss urged the Institute to incorporate the Employees’ Compensation Scheme (ECS) into its professional curriculum to deepen awareness of social protection and risk mitigation within the financial and business sectors.

According to him, poor understanding and non-compliance with the ECS expose businesses to serious risks, noting that safeguarding workers remains the most critical investment any organisation can make.

“Deepening knowledge of the Employees’ Compensation Scheme is important because of the risk businesses face without a social safety net. Educating stakeholders on protecting their most important assets — the workers — is key to building resilience,” Faleye said.

Responding, CRMI Chief Registrar, Dr Victor Olaninye, thanked the NSITF management for the engagement and for the Fund’s participation in the Institute’s 24th Annual International Conference.

He commended Faleye and his management team for what he described as transformative leadership since assuming office in July 2024.

“The professionalism and reforms you are driving at NSITF are truly commendable,” Olaninye said, affirming CRMI’s readiness to collaborate with the Fund to strengthen risk management culture and national development.