Strengthening social security system for better performance by NSITF is a task that must be achieved-MD Faleye

 

By allcitynews.ng 

In apparent bid to strengthening social security system for better  performance, the leadership of Nigeria Social Insurance Trust Fund (NSITF) has set up  new reform agenda.

Just as he pointed out that the goal is  a  task that  must be achieved under the current regime.

Therefore, the NSITF has set a new reform agenda aimed at strengthening Nigeria’s social security system, following its two-day 2026 Management Performance Review (MPR) meeting in Abuja.

The meeting, attended by top management of the Fund, was convened to assess the Fund’s performance in 2025 and chart a policy direction for improved service delivery and financial sustainability in the new year.

Discussions focused on reviewing regional performances, strengthening collaboration across branches, identifying operational challenges, and realigning the Fund towards greater efficiency and value delivery.

In his opening remarks, the Managing Director and Chief Executive, Barrister Oluwaseun Faleye, had stressed the need for measurable results and renewed commitment to the Fund’s mandate. He outlined five strategic priorities for 2026 to include expanding coverage, especially in the private and informal sectors; improving the timeliness and transparency of claims processing; strengthening operational efficiency and financial discipline; deepening digital transformation; and upholding integrity and professionalism across the organisation. 

He had emphasized that the Fund must build trust among stakeholders while delivering tangible value to contributors and beneficiaries.

Resolutions from the regions focused largely on expanding coverage, improving compliance, reducing operational costs, and strengthening engagement with small and medium-scale enterprises as well as the informal sector. 

The meeting reviewed performances of regional and branch offices, and those of key departments and proffered solutions to identified issues. Some of the proposed solutions are creation of special teams to address abandoned files, improve new registrations, and rationalize cost-collection ratios. Others are stronger legal enforcement against recalcitrant employers, better deployment of staff and resources, performance-based incentives, and closer collaboration with stakeholders.

Recommendations emphasized digital transformation, improved claims processing, stronger governance, and enhanced stakeholder engagement amongst others.

Participants advocated unified databases, automated workflows, and real-time monitoring systems to speed up compensation delivery and increase transparency. 

They also recommended closer collaboration with agencies such as the Federal Inland Revenue Service and the Corporate Affairs Commission to boost contributions, alongside measures to promote staff welfare, diversity, and mental-health support.

Inclusion of the informal economy in the ECS formed a major point at the MPR, with participants calling for intensified sensitization, simplified processes, and partnerships with relevant agencies to expand coverage.

At the close of the meeting, management reaffirmed its commitment to implementing the resolutions with clear timelines, monitoring mechanisms, and accountability structures. 

Officials described the 2026 review as one driven to strengthen the Fund’s mandate, expand coverage, and restore confidence in the country’s social security system.

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