The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, has called for localized solutions, preventive measures, and synergy as the most effective strategies for risk management.

Speaking at the 24th Annual International Conference of the Chartered Risk Management Institute of Nigeria (CRMI) on Thursday in Lagos, Faleye, represented by his Technical Assistant, Dr. Dayo Alao, said although conflicts, pandemics, and risks such as cyberattacks may be global, their impacts are felt locally.

He stressed that prevention remains cheaper, faster, and more humane than post-disaster responses, whether in occupational safety, climate resilience, or cyber defense.

“Global strategies must be rooted in the realities of the people they serve. Without local context, even the best global frameworks can fail,” Faleye said.

He added that risk management requires collective action:

“Risk is too complex for silos. We must think of ourselves as one ecosystem of risk managers, sharing data and building resilience locally and in our people.”

CRMI President and Governing Council Chairman, Mr. Kelvin Ugwuoke, said the conference theme, “Global Risks: Local Solutions,” underscores the importance of domestic strategies to address global threats.