The Nigeria Social Insurance Trust Fund (NSITF) has announced new measures to strengthen its risk management framework as part of broader efforts to improve operational efficiency and service delivery. The initiative follows the Fund’s internal review, which highlighted the need for enhanced governance structures, stronger controls and a more proactive approach to identifying and mitigating risks across its nationwide operations.
According to NSITF management, the reforms are designed to ensure greater transparency, accountability and resilience within the organisation. A key focus is the modernisation of its Enterprise Risk Management (ERM) processes, including the adoption of structured risk assessment tools, improved documentation practices and clear reporting lines. Officials noted that the Fund is working to institutionalise a culture where every department understands its risk exposure and implements preventive measures rather than reacting to issues after they occur.
The NSITF also emphasised capacity-building initiatives for staff, particularly in areas such as fraud prevention, audit readiness, compliance monitoring and data management. The aim is to equip personnel with the skills needed to safeguard the Fund’s assets, enhance decision-making and strengthen public confidence in its operations.
As part of the reforms, the organisation is reviewing existing policies and aligning its processes with national governance standards. This includes tightening financial controls, strengthening procurement oversight and ensuring that internal audits are conducted more frequently and effectively.
Management stated that these measures will not only improve the Fund’s internal operations but also enhance its ability to deliver social insurance services to Nigerian workers in a timely and transparent manner. With risk pressures rising across public institutions, NSITF believes that building a robust risk culture is essential to ensuring long-term sustainability.
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