Amid the furore generated by the recent allegations of financial fraud against the Managing Director and Chief Executive of the Nigeria Social Insurance Trust Fund, (NSITF), Barrister Olúwaṣeun Mayomi Faleye, two workers’ unions have come out strongly in defence of the embattled chief executive.
In a joint statement issued in Abuja Wednesday, the NSITF units of the Association of Senior Staff of Banks, Insurance, and other Financial Institutions, (ASSBIFI) and the National Union of Banks, Insurance, and other Financial Institutions Employees, (NUBIFIE) described the allegations as “dishonest, desperately concocted and misleading.”
Sahara Reporters had, earlier in the week, published a story alleging among other things, that the MD arrogates to himself the “unlimited spending powers,” and operates over a hundred bank accounts, claims the unions dismissed as “reckless distortion of facts, propelled by ulterior motives and and disgruntled persons who permanently act as saboteurs.”
“For the avoidance of doubt, Barrister Faleye has led operations of NSITF on the basis of good corporate governance in line with the NSITF Act and Federal Financial Regulations since his appointment as MD/CE on 13th July, 2024,” they stated.
The statement by the unions reads further: “As relevant stakeholders that diligently seek due process and promote the social-economic welfare of the staff of NSITF, we wish to state without equivocation that the current Executive Management has demonstrated work empathy and run an open door policy where discussions and decisions are reached based on merit.”
The unions explained that the Fund struggled before Faleye’s appointment due to lack of management will. They asserted that “Barrister Faleye has been able to deploy effective methodologies to attract more contributions to the Fund.
“It is modest to state that the operations of NSITF has significantly improved with strategic efforts of the current Executive Management led by Barrister Faleye. In this short while, the Managing Director has been able to reinforce the core values of the Fund in terms of transparency and accountability, professional management and good corporate governance, human capital development, secured investment, social responsibility and advocacy without disregard for regulatory hierarchy.”
The workers’ unions went on to highlight some of the achievements of Barrister Faleye in the short time he has been at the Fund’s helm of affairs to include, implementation of policies to enhance staff welfare, prompt payment of claims and compensations, and improved revenue.
Other achievements the unions listed to the credit of Barrister Faleye are, promotion of occupational health and safety, staff development, enhanced professionalism, accountability, and transparency, 24-hours call centre to interface with the public , and promotion and maintenance of industrial peace and harmony.
They expressed their conviction that the Managing Director has shown he “has the potential to reposition NSITF to its deserving heights.” To realise this, they pledged their “unalloyed support for Barrister Faleye.”
The workers further resolved not to fold hands to allow “any desperate attempt to detail the progress the Fund is making” under Faleye’s leadership.
“NSITF operates within a strict framework of accountability and remains committed to transparency and service improvement, the unions will not tolerate coordinated disinformation campaigns aimed at undermining public confidence and tarnishing the Fund’s corporate integrity,” they vowed.
The unions further affirmed the Fund’s commitment to achieving its mandate of providing adequate social protection for Nigerian workers as they urged the public to ‘”disregard the false publication in its entirety.”
Furthermore, they called on well-meaning Nigerians to rise against petty and desperate individuals who are bent on crashing public institutions and tarnishing the integrity of industrious individualsdor their selfish gains.’
