President Bola Tinubu has approved the appointment of Mr. Oluwaseun Faleye as the new Managing Director/Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF).
This announcement was made by the special adviser to the president, Chief Ajuri Ngelale, in a press release today.
This appointment is part of President Tinubu’s broader strategy to reposition the NSITF for greater efficiency and impact.
The profile
Oluwaseun Faleye is a legal and corporate finance expert with a portfolio in the financial and legal industries.
According to the state press release, his appointment is expected to drive a new era of qualitative service delivery and enhanced social protection for Nigerians.
Prior to his appointment, Faleye has held key positions in the public and private sectors.
He was the Director of Operations at NSITF where he oversaw the operational aspects of the fund, including the implementation of social insurance policies and the management of contributions and benefits.
He also served as the Director of Corporate Services at the National Pension Commission (PenCom). Faleye played a role in managing corporate affairs, human resources, and administrative functions at PenCom.
He was the Head of Strategy and Business Development at Leadway Pensure PFA. At Leadway Pensure, Faleye was responsible for formulating and executing strategic initiatives aimed at expanding the company’s market share and improving its service offerings.
He served as a Senior Consultant at PwC Nigeria. During his tenure at PwC, Faleye provided strategic advisory services to various clients in the financial services sector, including social insurance and pension fund administrators.
He worked also as a Manager of Business Operations at AXA Mansard Insurance.
- In addition to Mr. Faleye’s appointment, President Tinubu has also appointed Mrs. Mojisolaoluwa Kehinde Alli-Macaulay as the Executive Director (Operations) of the NSITF.
- Mrs. Alli-Macaulay is a former lawmaker and the former Chairperson of the Lagos State House of Assembly Committee on Women Affairs, Poverty Alleviation, and Job Creation.
- Her experience in legislative affairs and social welfare initiatives is anticipated to complement the strategic goals of the NSITF under Mr. Faleye’s leadership.
What you should know
The Nigeria Social Insurance Trust Fund (NSITF) has a long history of providing social insurance services to Nigerian employees.
- Established in 1961, the Fund has undergone several transformations to adapt to 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.