The newly appointed Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), Engineer Sola Olofin, has pledged to prioritize the protection of workers’ rights and the promotion of safe working environments across Nigeria.
Speaking in Abuja during his assumption of office, Olofin commended President Bola Ahmed Tinubu for entrusting him with the role and vowed to uphold the mandate of the NSITF with transparency, efficiency, and accountability.
Olofin highlighted the importance of the Employees’ Compensation Act (ECA) 2010, which established the Employees’ Compensation Scheme (ECS) under the NSITF. He noted that the Act mandates the Fund to provide comprehensive compensation for employees who suffer work-related injuries, illnesses, or fatalities. “This mandate is not just a legal obligation; it is a moral imperative. Workers are the lifeblood of our economy, and their welfare must remain a priority for sustainable national development,” he said.
The NSITF Chairman outlined his vision for the Fund, emphasizing the need to reposition it as a globally recognized social security institution. He identified key strategic areas for improvement, including:
- Strengthening Compliance and Coverage: Olofin warned that many employers in Nigeria are yet to fully comply with the ECA, which mandates contributions to the Fund. He pledged to work with stakeholders, including labour unions, regulatory agencies, and the private sector, to expand compliance and ensure every eligible worker is protected.
- Enhancing Transparency and Accountability: He promised to introduce stricter financial controls and ensure that every Naira remitted to the NSITF is used solely for the benefit of employees and employers.
- Capacity Building and Stakeholder Engagement: Olofin emphasized the importance of training and capacity development for NSITF staff to enhance professionalism and service delivery. He also pledged to strengthen collaboration with labour organizations, employer associations, and government bodies to build a robust social security framework.
Olofin’s appointment comes at a critical time as the NSITF seeks to address gaps in compliance and improve its service delivery. His commitment to workers’ welfare and safe working environments aligns with the Fund’s mission to provide social security and protect the rights of Nigerian workers.