President Bola Tinubu has approved the appointment of Mr. Oluwaseun Faleye as the new Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF). This announcement was made today by Chief Ajuri Ngelale, the special adviser to the president, through a press release.
This appointment aligns with President Tinubu’s broader strategy to enhance the efficiency and impact of the NSITF.
Profile of Oluwaseun Faleye
Oluwaseun Faleye is a distinguished expert in legal and corporate finance, with extensive experience in both the financial and legal sectors. The state press release highlighted that his appointment is anticipated to usher in a new era of qualitative service delivery and improved social protection for Nigerians.
Faleye has held significant positions in both the public and private sectors prior to this appointment. He previously served as the Director of Operations at NSITF, overseeing the fund’s operational aspects, including the implementation of social insurance policies and the management of contributions and benefits. Additionally, he was the Director of Corporate Services at the National Pension Commission (PenCom), where he managed corporate affairs, human resources, and administrative functions.
Faleye also held the position of Head of Strategy and Business Development at Leadway Pensure PFA. In this role, he was responsible for formulating and executing strategic initiatives to expand the company’s market share and improve service offerings. Furthermore, as a Senior Consultant at PwC Nigeria, he provided strategic advisory services to various clients in the financial services sector, including social insurance and pension fund administrators. He also worked as a Manager of Business Operations at AXA Mansard Insurance.
In addition to Mr. Faleye’s appointment, President Tinubu has named Mrs. Mojisolaoluwa Kehinde Alli-Macaulay as the Executive Director of Operations at the NSITF. Mrs. Alli-Macaulay is a former lawmaker and the previous Chairperson of the Lagos State House of Assembly Committee on Women Affairs, Poverty Alleviation, and Job Creation. Her extensive experience in legislative affairs and social welfare initiatives is expected to complement the strategic goals of the NSITF under Mr. Faleye’s leadership.
Background of NSITF
The Nigeria Social Insurance Trust Fund (NSITF) has a long-standing history of providing social insurance services to Nigerian employees. Established in 1961, the Fund has evolved to meet the changing socio-economic landscape of the country. Initially focused on providing retirement benefits, the NSITF’s scope has expanded over the years to include workmen’s compensation and other social security services.