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NSITF disputes allegations of managerial crisis.

By Afolabi Oyekunle.



The Nigeria Social Insurance Trust Fund (NSITF) has disputed the allegations of managerial crisis and mass resignation of workers being peddled in some media outlets.

In a statement issued by Alexandra  Mede, Head of Corporate Affairs, the NSITF described the story published by Sahara Reporters as a deliberate misrepresentation of facts and lacking in merit.

The statement read: "The Management of the Nigeria Social Insurance Trust Fund (NSITF) wishes to categorically reject the allegations recently circulated by a coalition of civil 
society organisations, which rely on a Sahara Reporters publication dated June 4, 2026, as their primary basis. 

"The NSITF considers both the publication and the demands arising from it to be without merit, and rooted in a deliberate misrepresentation of facts", she stated.

On the Allegation of Mass Resignations and Staff Intimidation, she said "There has been no mass resignation at the NSITF, and there is no managerial crisis within the organisation. "What occurred was a structured Voluntary Retirement Exercise (VRE), formally advertised on March 3, 2026, and open to confirmed staff in designated senior cadres — Senior Manager, Principal Manager, Assistant General Manager, Deputy General Manager, and 
General Manager."

"The VRE was a deliberate institutional reform initiative, informed by recommendations from a credible, independent staff audit conducted by PricewaterhouseCoopers (PwC). It offered participating staff voluntary exits with full financial benefits attached. 

"The exercise was subsequently extended following approval by the Management Board at its 83rd meeting on April 28, 2026. Every exit recorded was voluntary, incentivised, and processed in strict accordance with the terms of the exercise, extant Public Service Rules and applicable labour laws.

"To characterise this structured, transparent exercise as "hundreds of staff resigning amid intimidation" is factually incorrect and constitutes irresponsible journalism.

"Management finds it equally troubling that civil society organisations, whose mandate is the pursuit of truth and 
accountability, would lend their platforms to what amounts to an unsubstantiated smear 
campaign against a Federal Government institution. 

"The NSITF maintains established channels for staff grievances through its Human Resource Management Department, and no credible complaints of victimisation or administrative high-handedness have been substantiated.

"On the Allegations of Financial Misconduct, the NSITF noted that the coalition itself acknowledges the financial allegations it cites —including claims regarding multiple bank accounts and a purported N297 billion scandal —remain unproven and subject to investigation. Management finds it deeply concerning that 
unverified claims are being weaponised to demand the removal of principal officers of a federal institution. 

"The NSITF operates under statutory oversight frameworks and remains fully accountable to the relevant supervisory authorities. Management welcomes any lawful, evidence based inquiry and has nothing to conceal.

On the demand for removal of the Managing Director/Chief 
Executive and the Board Chairman, the statement maintained that the coalition’s calls “are not grounded in established fact. Under the leadership of Barr. Oluwaseun Faleye, the Fund has recorded measurable improvements across every sphere of service delivery, including expanded coverage and enhanced operational efficiency. 

NSITF MD. Barrister Oluwadeun Faleye.

"These outcomes are wholly inconsistent with the portrait of institutional dysfunction being 
advanced by the coalition.
Management respectfully urges the relevant authorities and the Nigerian public to assess these allegations against the available evidence before drawing conclusions. In the same spirit of accountability the coalition invokes, Management also calls on the appropriate regulatory bodies to strengthen oversight of civil society organisations to ensure that their activities remain 
anchored in verified facts and the public interest.

"The NSITF reaffirms its commitment to transparency, accountability, and the welfare of Nigerian workers — the very values it was established to uphold. Management will continue to engage stakeholders openly and responsibly, and calls on all parties to prioritise factual 
accuracy in public discourse concerning a federal institution of this importance,” the statement summed.

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