Abuja: The Nigeria Social Insurance Trust Fund (NSITF) and South Africa’s Rand Mutual Assurance (RMA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in social insurance administration and technical development. Mr. Oluwaseun Faleye, Managing Director and Chief Executive Officer of NSITF, announced this at the signing ceremony held in Abuja, concluding a three-day Strategic Technical Engagement and Bilateral Sessions organized by the Fund.
According to News Agency of Nigeria, the MoU marks a significant milestone in advancing social protection systems across Africa. Faleye emphasized that the agreement reflects both organizations’ commitment to knowledge sharing, institutional strengthening, and adopting global best practices. He stated that the partnership would create opportunities for technical exchanges and capacity-building initiatives aimed at improving service delivery and enhancing institutional effectiveness.
Faleye outlined areas of collaboration, including occupational h
ealth and safety, rehabilitation programs, claims administration, actuarial modeling, and digital transformation. He noted that the agreement would facilitate the exchange of technical information, research materials, and best-practice frameworks in compliance with applicable regulations. The establishment of a Joint Technical Working Group is expected to ensure that the partnership yields practical and measurable outcomes for both organizations.
The NSITF leader reiterated the Fund’s commitment to strengthening the Employees’ Compensation Scheme through innovation, institutional partnerships, and continuous operational improvements. He expressed confidence that the collaboration would lead to safer workplaces, improved compensation systems, and enhanced social security administration across the continent.
Mr. Bilal Adams, Chief Executive Officer of RMA, shared that the partnership reflects a shared vision to reinforce workplace protection and social insurance systems. He highlighted that the technical enga
gements have provided a platform for both institutions to exchange experiences and identify mutual interests. Adams assured that RMA is committed to supporting initiatives promoting occupational safety, rehabilitation, and effective compensation management.
The MoU outlines cooperation in technical exchanges, research, capacity building, injury prevention programs, and technology benchmarking. It also provides for the joint exploration of prevention and incentive-based models to support Nigeria’s Employees’ Compensation Scheme. A Joint Technical Working Group comprising representatives from both institutions will coordinate and implement activities arising from the partnership.