By Atiku Sarki, Abuja
The Nigeria Social Insurance Trust Fund (NSITF) and South Africa’s Rand Mutual Assurance (RMA) have signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation in social insurance administration, occupational health and safety, and employee compensation.
A statement issued in Abuja said the agreement was signed on June 25, 2026, at the conclusion of a three-day Strategic Technical Engagement and Bilateral Session hosted by NSITF at Fraser Suites, Abuja.
The sessions brought together the management and technical teams of NSITF, led by its Managing Director and Chief Executive Officer, Barrister Oluwaseun Faleye, and RMA’s delegation headed by its Chief Executive Officer, Mr. Bilal Adams.
During the three-day engagement, both organisations held extensive technical discussions, shared institutional experiences, and benchmarked best practices in key areas, including social insurance administration, occupational health and safety systems, injury prevention, rehabilitation frameworks, actuarial modelling, claims administration, and digital transformation.
The discussions culminated in the signing of the MoU, which establishes a framework for future collaboration while making it clear that any specific project or commercial arrangement arising from the agreement will require separate negotiations and approvals in line with the laws and internal procedures of both organisations.
Under the agreement, both institutions will facilitate technical exchanges, capacity-building programmes, and the sharing of research materials, technical information, and best-practice frameworks, subject to confidentiality and regulatory requirements.
To ensure effective implementation, NSITF and RMA agreed to establish a Joint Technical Working Group comprising representatives from relevant departments of both organisations.
The committee will identify, coordinate, and monitor collaborative activities, ensuring the partnership delivers practical and measurable outcomes.
The MoU also provides for joint exploration of prevention and incentive-based models that can be adapted to Nigeria’s Employees’ Compensation Scheme, as well as continued collaboration on digital transformation initiatives and technology benchmarking.
Both organisations noted that the document was jointly reviewed by their legal teams before signing and emphasised that it is non-binding, creates no immediate financial obligations, and serves primarily as a framework for future cooperation.
In a joint statement, NSITF and RMA reaffirmed their commitment to promoting knowledge exchange and collaboration aimed at advancing social insurance administration, workplace safety, rehabilitation services, and employee compensation systems.
Industry stakeholders have welcomed the partnership, noting that RMA, established in 1894, is one of Africa’s oldest social security institutions with extensive experience in administering compensation for occupational injuries and diseases.
For NSITF, the collaboration offers an opportunity to benchmark against an established international institution as Nigeria continues to strengthen its social security and employees’ compensation framework.
NSITF is the statutory agency responsible for administering Nigeria’s Employees’ Compensation Scheme under the Employees’ Compensation Act, 2010, while Rand Mutual Assurance is a South African mutual assurance company specialising in occupational injury and disease compensation.