The Nigeria Social Insurance Trust Fund (NSITF), has urged its management team to move beyond counting activities and start measuring real results for employers, employees and their families.
Speaking in Abuja at the opening of the second day of the Regional Management Performance Review, the Executive Director, Finance & Investment, Samuel Ayodele Olufemi, said the Fund must anchor its work on impact rather than output.
“Performance cannot be measured merely by the number of activities carried out, reports submitted, meetings held, or targets declared complete,” he stated.
According to him, “Performance must ultimately be measured by the impact we create for the employers who fund this Scheme, the employees who rely on it, and the families whose security depends on the protection afforded by the Employees’ Compensation Scheme.”
Reflecting on the theme: “From Performance to Impact: Strengthening Compliance, Enhancing Service Delivery, and Expanding Social Security Coverage”, the Executive Director described it as “a deliberate challenge” to evaluate what collective efforts have actually achieved.
He stressed that operational performance and responsible stewardship of the Fund’s resources are inseparable, stressing that every programme, compliance activity, employer engagement and claim processed depends on efficient deployment of financial, human and digital resources.
“Sound financial management is not merely a support function. It is the foundation upon which every service we provide ultimately rests,” he said.
He cautioned that financial discipline is not the sole responsibility of the Finance and Investment Directorate.
He charged every Regional Manager, Branch Manager and Head of Department to ensure public resources are prudently utilised, expenditures properly managed, revenues accurately accounted for, and decisions backed by timely and credible information.
Furthermore, he said the Fund must set clearer priorities, eliminate avoidable expenditure, simplify processes, and channel resources toward initiatives with the greatest institutional and social impact, while remaining fully compliant with the Employees’ Compensation Act, Financial Regulations and other circulars.
“Financial prudence is not about spending less at all costs. It is about spending wisely, spending transparently, and ensuring that every naira entrusted to us delivers measurable value to the organisation and to the people we serve,” he added.
The Executive Director noted that Management is already introducing technology and digital platforms to strengthen financial reporting and improve operations. He said the innovations, if properly embraced, will enhance efficiency, improve accountability and position the Fund to deliver better outcomes.
He urged participants to speak candidly about achievements and challenges during the day’s presentations.
“Where progress has been made, let us identify the factors that contributed to that success so they can be replicated. Where targets have not been achieved, let us objectively identify the underlying causes without defensiveness, because honest reflection is the first step towards meaningful improvement,” he said.
He called for openness, professionalism and practical solutions that will build “a more efficient, accountable, and responsive institution.”
“Above all, let us remember that every naira entrusted to us, every resource placed in our care, and every decision we make must advance the Fund’s mandate, strengthen public confidence in NSITF, and improve the lives of the workers and employers we exist to serve,” he said.
