President Major General Muhammadu Buhari (retd) has approved the re‑constitution and placement of a new 11‑member management board for the Nigeria Social Insurance Trust Fund (NSITF). This action aligns with Section 4 and the powers granted to him by Sections 7 and 8 of the NSITF Act, CAP N88, Laws of the Federation of Nigeria 2004.
According to a statement from the Federal Ministry of Labour and Employment, the tripartite board was reconstituted after the tenure of the former chairman and non‑executive members expired. Chief Emmanuel Nwosu, a Fellow of the Nigeria Institute of Town Planners and former chairman of the Nigeria Insurance Commission, has been appointed chairman of the board.
The new Managing Director/Chief Executive is Maureen Allagoa, a lawyer and Fellow of the Chartered Institute of Administration. Allagoa, the immediate former Executive Director of Administration, brings extensive experience from several blue‑chip companies. She replaces Michael Akabogu, who was removed for forging his National Youth Service Corps certificate and for low productivity.
Modu Gana retains his role as Executive Director/Member on the new board, while Dr. Gabriel O.C. Okenwa assumes the position of Executive Director, Administration. Adedeji Adegoke has been promoted from General Manager, Investment to Executive Director, Finance & Investment, filling the vacancy left by the death of Temitope Caroline Akinwale, the former Executive Director, Finance and Investment.
The board’s other members include Marwan Mustapha Adamu and Adewale Adeyanju, representing the Nigeria Labour Congress; Taiwo Adeniyi (President, NECA) and Celine Oni (Director, Learning and Development/Projects, NECA), representing the Nigeria Employees Consultative Forum; and Lauretta Adaogu, Director of the Occupational Safety and Health Department in the Federal Ministry of Labour and Employment. A nominee of the Central Bank of Nigeria also serves on the board.
The new Managing Director and Executive Directors assumed their duties on 6 February 2023. The full management board will be inaugurated by the Minister of Labour and Employment once security and other clearance processes are completed by the relevant agencies, on a date to be announced.
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