From Sola Ojo, Abuja
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has assured the Nigeria Social Insurance Trust Fund (NSITF) of enhanced collaboration and involvement in the management of its funds.
He gave the assurance in Abuja on Thursday, March 20, 2025, when the management of NSITF, led by its Managing Director and Chief Executive Officer, Mr Oluwaseun Faleye, paid him a courtesy visit at the Commission’s corporate headquarters in Jabi.
“We will continue to collaborate with you, particularly in the area of the management of funds, which has to be done in the most transparent and accountable manner.
“That is what we are here for. We need to let you know some of the things we have discovered in the course of our investigation so that, going forward, you will not make the mistakes of your predecessors,” Head of Media and Publicity, EFCC, Dele Oyewale, said on Thursday.
According to Oyewale, Faleye had earlier disclosed that his team was in the Commission to formally introduce and advocate for the Employee Compensation Scheme (ECS), a social security initiative that enhances employees’ welfare and protection.
“He stressed that the NSITF needed a more robust engagement with the EFCC to avoid the pitfalls of the past and demonstrate a new dawn of transparency and accountability in the Fund,” Oyewale said.
“I am mindful of the perception out there about our organisation due to past infractions.
“I know for a fact that the EFCC has had cause in the past to investigate one infraction or another in NSITF, so I think that engaging with EFCC will show our forthrightness.
“It would put us out there that we’re now committed to some level of transparency and corrupt-free processes, either by way of procurement or in our financial dealings generally,” Faleye was quoted.
While soliciting the deepening of collaboration between the two agencies of the government, Faleye emphasised the need for intelligence sharing and EFCC’s hand in NSITF’s capacity building.
“Another reason why we’re here is in terms of deepening the collaboration between NSITF and EFCC in terms of information sharing. We feel that there should be synergy in data sharing. For example, EFCC’s insights on fraudulent claims and non-compliance can help us as we target much more compliance and, of course, most importantly, capacity building. Capacity building to help us develop in-house capacity to prevent fraud and corruption, bring it to the fore, and leave it to the professionals who can deal with them,” he said.
“I also wish to strongly appeal to the Chairman and the management of EFCC to please adopt the Employee Compensation Scheme, ECS, not only because it’s mandated by law, but for the benefit of each and every member of the staff,” he said.
Responding to the appeal on ECS, EFCC’s Director of Administration and Human Resources, Mr Peter Gbarufu, disclosed that the Commission has complied with the Scheme stipulated under the Employee Compensation Act 2010 by officially subscribing to it.
“We have complied by way of registering, and we have been in touch with your staff in this regard,” he said.