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| MD/CE NSITF, Barrister Oluwaseun Faleye (right), with Chief Executive of South Africa RMA, Mr. Bilal Adams |
The Nigeria Social Insurance Trust Fund (NSITF) and Rand Mutual Assurance (RMA) of South Africa have signed a Memorandum of Understanding (MoU) formalising a framework for institutional cooperation across social insurance administration, occupational health and safety, and employee compensation.
The agreement was signed on 25th June, 2026, at the conclusion of a three-day Strategic Technical Engagement and Bilateral Sessions hosted by NSITF at Fraser Suites, Abuja. The sessions brought together the management and technical teams of NSITF, led by the Managing Director/Chief Executive, Barrister Oluwaseun Faleye, and RMA’s technical delegation, led by its Chief Executive Officer, Mr. Bilal Adams.
Over the course of the three days, both delegations engaged in structured knowledge exchange, institutional benchmarking, and deliberations on potential areas of cooperation.
Discussions spanned social insurance administration, occupational health and safety systems, injury prevention programmes, rehabilitation frameworks, actuarial modelling, and digital transformation — providing a substantive basis from which the MoU emerged.
“Any project, transaction, programme, investment, commercial arrangement or collaborative initiative arising from the MoU shall be subject to separate negotiations and the execution of definitive agreements, approved in accordance with applicable laws, regulations, and the internal approval processes of each Party.” — MoU, Article on Implementation
The MoU sets out six areas of agreed cooperation. Chief among them is the facilitation of technical exchanges and capacity-building initiatives covering occupational health and safety, prevention programmes, rehabilitation frameworks, claims administration, actuarial modelling, and digital transformation.
The two institutions also agreed to share technical information, research materials, and best-practice frameworks, subject to applicable confidentiality and regulatory requirements.
To operationalise the MoU, both organisations have committed to establishing a Joint Technical Working Group, comprising representatives from relevant departments on each side, tasked with identifying, developing, and coordinating collaborative activities. This structure is intended to ensure that the MoU translates into concrete, time-bound programmes rather than remaining a statement of intent.
The agreement further provides for joint exploration of prevention and incentive-based models adaptable to the operational framework of Nigeria’s Employees’ Compensation Scheme, as well as continued dialogue on digital transformation initiatives and technology benchmarking.
The MoU was jointly reviewed by the Legal Teams of both institutions prior to signing. The document is expressly non-binding and does not create legally enforceable obligations or impose immediate financial commitments on either Party. It serves as a statement of mutual intent, providing a structured framework to guide future engagement.
In a joint statement, NSITF and RMA reaffirmed their commitment to “fostering cooperation and knowledge exchange for the advancement of social insurance administration, workplace safety, rehabilitation services, and employee compensation systems.”
The partnership has drawn measured interest from sector stakeholders, who note that RMA — founded in 1894 and one of the oldest social security institutions on the continent — brings a deep body of operational experience to the relationship. For NSITF, the engagement represents an opportunity to benchmark against an established model as Nigeria continues to develop and strengthen its own social security architecture.
The Nigeria Social Insurance Trust Fund (NSITF) is the statutory body mandated to administer the Employees’ Compensation Scheme under the Employees’ Compensation Act, 2010 and the NSITF Act.
Rand Mutual Assurance (RMA) is a South African mutual assurance company established in 1894. It is one of the oldest social security institutions in the world, specialising in the administration of occupational injuries and diseases compensation.
The MoU was signed on 25th June, 2026, at Fraser Suites, Abuja, at the conclusion of a three-day bilateral engagement between both institutions.
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