By| Goodluck E.Adubazi, Abuja
The Nigeria Social Insurance Trust Fund (NSITF) and South Africa’s Rand Mutual Assurance (RMA) have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in social insurance administration, occupational health and safety, rehabilitation services, and employee compensation systems.
The agreement was signed on Thursday at Fraser Suites, Abuja, marking the culmination of a three-day Strategic Technical Engagement and Bilateral Session hosted by NSITF.
The signing formalises a framework for institutional collaboration between the two organisations and follows extensive technical discussions involving management and specialist teams from both sides.
The NSITF delegation was led by its Managing Director and Chief Executive Officer, Barrister Oluwaseun Faleye, while RMA’s delegation was headed by its Chief Executive Officer, Mr. Bilal Adams.
Over the three-day engagement, both institutions participated in knowledge-sharing sessions, institutional benchmarking exercises, and strategic discussions on key areas of mutual interest. Deliberations focused on social insurance administration, occupational health and safety systems, workplace injury prevention, rehabilitation programmes, actuarial modelling, and digital transformation initiatives.
Under the terms of the MoU, the two organisations agreed to collaborate in six key areas, including technical exchanges, capacity-building programmes, research and information sharing, and the adoption of best-practice frameworks.
The partnership will also support cooperation on claims administration, rehabilitation services, actuarial processes, and emerging technology solutions.
To ensure effective implementation, NSITF and RMA will establish a Joint Technical Working Group comprising representatives from both institutions. The body will be responsible for identifying, developing, and coordinating collaborative programmes and initiatives arising from the agreement.
The MoU also provides for the joint exploration of prevention and incentive-based models that could be adapted to support Nigeria’s Employees’ Compensation Scheme, alongside continued engagement on digital innovation and technology benchmarking.
According to the agreement, any specific project, programme, investment, or commercial arrangement arising from the partnership will be subject to separate negotiations and approvals in line with the laws, regulations, and internal procedures governing both organisations.
Legal teams from NSITF and RMA jointly reviewed the document before its execution.
The MoU is non-binding and does not impose immediate financial obligations on either party, serving instead as a framework to guide future cooperation.
In a joint statement, the organisations reaffirmed their commitment to advancing social insurance administration and workplace protection through sustained collaboration and knowledge exchange.
Industry stakeholders have welcomed the development, noting that RMA, founded in 1894, is one of Africa’s oldest social security institutions with extensive experience in occupational injury and disease compensation.
The partnership offers NSITF an opportunity to draw on international best practices as Nigeria continues efforts to strengthen its social security and employee compensation systems.
NSITF is the statutory body responsible for administering Nigeria’s Employees’ Compensation Scheme under the Employees’ Compensation Act, 2010, while RMA is a South African mutual assurance company specialising in occupational injuries and diseases compensation.
The agreement was signed on June 25, 2026, at the conclusion of the bilateral engagement in Abuja.
