The Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has called on the Nigeria Social Insurance Trust Fund (NSITF) to ensure the timely remittance of its operating surplus to the Consolidated Revenue Fund (CRF) in accordance with the Fiscal Responsibility Act (FRA) 2007.
Muruako made the call during a presentation by the NSITF, Abuja Region, on the Employees’ Compensation Scheme (ECS) to officials of the Commission at the FRC headquarters in Abuja, FRC statement issued by Deputy Director of Information, Bede Ogueri Anyanwu said.
Commending the NSITF for its ongoing efforts in protecting Nigerian workers through social security and compensation programs, the FRC Boss emphasised that strict adherence to fiscal discipline and transparency is central to ensuring sustainable national development.
“Our oversight mandate is not punitive,” Muruako stated. “It is designed to strengthen transparency, fiscal prudence, and corporate governance across all government-owned enterprises. We urge the NSITF to continue aligning its operations with these standards while improving service delivery to Nigerian workers and employers.”
He further assured that the Commission remains committed to deepening collaboration with agencies like the NSITF to ensure that social protection programs operate within the framework of fiscal responsibility — thereby reinforcing accountability, trust, and efficiency in public financial management.
In his response, the leader of the NSITF delegation, Mr Bello Collins, reaffirmed the Fund’s commitment to workplace safety, employee welfare, and rehabilitation.
He emphasised that the prevention of workplace injuries remains the cornerstone of the Employees’ Compensation Scheme. “No one wants to sustain an injury or lose a life while working,” Collins said. “That is why the NSITF continues to prioritise occupational safety and health awareness as a key part of its mandate.”
He highlighted several ongoing initiatives by the Fund, including: Routine workplace inspections by Health, Safety and Environment (HSE) officers to ensure compliance with safety standards;
Nationwide Occupational Safety and Health (OSH) awareness programs for over 25,000 employers; Collaboration with the Federal Ministry of Labour and Employment and the Nigeria Employers’ Consultative Association (NECA) under the Safety at Work Intervention Project (SWIP); and
Active participation in the ongoing amendment process of the National Safety and Health Council Bill at the National Assembly.
Collins noted that these initiatives reflect the Fund’s broader vision of building a socially secure, economically empowered, and fiscally responsible Nigeria, in alignment with both national safety policies and the Fiscal Responsibility framework.
