The Nigeria Social Insurance Trust Fund (NSITF) says it is expanding its Risk Management Framework to ensure more effective and efficient delivery on its social security mandate.
The Managing Director and Chief Executive of the Fund, Oluwaseun Falaye, disclosed this in Abuja while receiving the leadership of the Chartered Risk Management Institute (CRMI) on a courtesy visit.
Falaye said the NSITF aims to build the level of understanding and sustainability required for a more resilient organisation.
He said, “I see a lot of ways that we can collaborate particularly in expanding or developing the capacity of our members, either from the risk department itself or even Fundwide.”
Falaye, who received the CRMI delegation led by its Chief Registrar, Dr. Victor Olaninye, urged the Institute to integrate the Employees’ Compensation Scheme into its curriculum to deepen knowledge and awareness across the financial sector.
He said, “My thought is in deepening the knowledge about Employees’ Compensation Scheme within your curriculum because of the risk involved in lack of social safety net to a business. It is important in building resilience to educate all stakeholders of the need to safeguard their most important assets, which is the workers.”
Responding on behalf of the CRMI team, Olaninye thanked the NSITF boss for the audience and for the Fund’s participation in the Institute’s 24th Annual International Conference.
He commended the Managing Director and his team for the achievements recorded since Falaye assumed office in July 2024.
He said, “The professionalism and transformative leadership you bring to NSITF are truly commendable. We applaud the progress you are driving.”
Olaninye also reaffirmed the Institute’s readiness “to collaborate with you in further advancing national development and strengthening the culture of excellence in risk management.”