Chairman NSITF assumes office, commends Tinubu
…says Fund, pivotal institution in national security framework
By Tom Okpe
The newly appointed Chairman, Nigeria Social Insurance Trust Fund, NSITF, Sola Olofin has resumed office, commending President Bola Ahmed Tinubu for entrusting him with such critical assignment.
At his assumption of duty on Friday in Abuja, Olofin noted that the Fund exists to provide compensation to insured employees in the event of work-related injuries, disabilities, diseases, or death, as enshrined in the Nigeria Social Insurance Trust Fund Act, 1993, as amended, and, “a pivotal institution in our national social security framework.”
He also said the Employees’ Compensation Act, ECA, 2010, which established the Employees’ Compensation Scheme, ECS, under the NSITF, reinforces more commitment to the welfare and dignity of Nigerian workers.
The Chairman said: “I stand before you today with a profound sense of duty and responsibility, as I formally assume the office of Chairman of the NSITF.
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“I am deeply grateful to President Bola Ahmed Tinubu, for entrusting me with critical assignment. I do not take this responsibility lightly, and I am fully aware of the weight of expectations that come with it.
“Our primary goal is to ensure social protection for Nigerian workers, in line with the constitutional provisions of Section 17 (3) (c) of the 1999 Constitution of the Federal Republic of Nigeria, as amended, which mandates the State to ensure that suitable and adequate welfare is provided for all persons in employment.
“Under Section 3 of the ECA, the Fund is mandated to provide comprehensive compensation for employees, who suffer from work-related injuries, illnesses, or fatalities.
“This mandate is not just a legal obligation; it is a moral imperative. It is the foundation upon which a just and equitable Labor environment is built. Workers are the lifeblood of our economy, and their welfare must remain a priority, if we are to achieve sustainable national development.
“As I assume office, I want to make it clear that my vision for the NSITF is one of transparency, efficiency, and accountability. We must reposition the Fund as a globally recognized social security institution, trusted by employers, employees, and the general public.
“To achieve this, we must focus on key strategic areas: Strengthening Compliance and Coverage.”
Olofin further stressed that many employers in Nigeria are yet, to fully comply with the provisions of the Employees’ Compensation Act Section 33 of the ECA, which makes it mandatory for all employers to remit their contributions to the Fund.
“We must work closely with stakeholders, including Labor Unions, Regulatory Agencies’, and the Private Sector, to expand the scope of compliance and ensure that every eligible worker is protected under the scheme,” he said.
He pledged to enhance operational efficiency, ensuring financial sustainability, capacity building and stakeholder engagement, public awareness and a well-informed workforce, to improve compliance and trust in the institution.
“This is not just a leadership transition; it is a call to duty. We are here to work, to innovate, and transform the NSITF into a beacon of hope for Nigerian workers.
“In doing so, we must align our efforts with the ‘Renewed Hope Agenda’ of President Tinubu, under whose visionary leadership, Nigeria is undergoing a transformative journey, one that is focused on economic, social inclusion, and national prosperity recovery.
“By expanding coverage, ensuring prompt compensation for workers, and improving service delivery, we will contribute meaningfully, to the President’s goal of a more secure and inclusive Nigeria.
“Together, we must build a culture of collaboration, transparency, and excellence. We must be bold in confronting challenges, proactive in driving reforms, and relentless in delivering results.
“Let us build a better future for Nigerian workers, rise to the occasion and make history,” he added.
