Managing Director of NSITF, Oluwaseun Faleye
Nigeria Social Insurance Trust Fund (NSITF) has dismissed allegations of a managerial crisis and mass resignation of workers within the organisation, insisting that staff departures recently reported in some media outlets were part of a voluntary restructuring exercise.
In a statement issued by the Fund’s Head of Corporate Affairs, Alexandra Mede, the NSITF described a report published by Sahara Reporters and claims subsequently amplified by a coalition of civil society organisations as misleading and lacking factual basis.
“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 statement said.
According to the Fund, there is no managerial crisis and no mass resignation of staff as alleged.
The NSITF explained that what occurred was a structured Voluntary Retirement Exercise (VRE), which was formally advertised on March 3, 2026, and opened to confirmed staff in designated senior cadres, including Senior Manager, Principal Manager, Assistant General Manager, Deputy General Manager and General Manager.
The Fund said the exercise was introduced as part of ongoing reforms and followed recommendations contained in an independent staff audit conducted by PricewaterhouseCoopers (PwC).
It added that the programme offered participating staff voluntary exits with full financial benefits and was later extended following approval by the Management Board at its 83rd meeting held 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,” the statement noted.
The Fund maintained that portraying the exercise as a wave of resignations caused by intimidation was inaccurate.
“To characterise this structured, transparent exercise as ‘hundreds of staff resigning amid intimidation’ is factually incorrect and constitutes irresponsible journalism,” it stated.
The NSITF also faulted the civil society groups behind the allegations, saying it was troubling that organisations expected to promote accountability would rely on claims that had not been substantiated.
It said established channels exist for staff grievances through its Human Resource Management Department and that no credible complaints of victimisation or administrative high-handedness had been proven.
On allegations of financial misconduct, including claims relating to multiple bank accounts and an alleged N297 billion scandal, the Fund said even those raising the accusations had acknowledged that the allegations remain unproven and subject to investigation.
The NSITF said it remains accountable to relevant supervisory authorities and welcomes any lawful, evidence-based inquiry into its operations.
Responding to calls for the removal of the Managing Director and Chief Executive Officer, Barr. Oluwaseun Faleye, and the Chairman of the Board, the Fund described the demand as unfounded.
It argued that under Faleye’s leadership, the organisation has recorded improvements in service delivery, expanded coverage and greater operational efficiency, developments it said do not support claims of internal dysfunction.
The Fund urged the public and relevant authorities to examine the available facts before reaching conclusions on the allegations.
It also called for stronger oversight of civil society organisations to ensure their interventions are based on verified information and serve the public interest.
Reaffirming its commitment to transparency, accountability and the welfare of Nigerian workers, the NSITF said it would continue to engage stakeholders while promoting accuracy in public discussions concerning the organisation.
