President Muhammadu Buhari on Thursday approved the re-constitution and placements of a new Management Board of the Nigeria Social Insurance Trust Fund (NSITF).

The development comes less than 48 hours after the erstwhile Managing Director of the Fund, Michael Akabogu, was relieved of his appointment over alleged forged NYSC certificate.

In an official notice sent Thursday night by the Ministry of Labour and Employment, Buhari said the reconstitution was in consonance with the provisions of Section 4 and the powers conferred on him by Sections 7 and 8 of the NSITF Act, CAP N88, Laws of the Federation of Nigeria (LFN) 2004.

The official notice signed by the spokesman of the ministry, Olajide Oshundun, explained that the new Managing Director and Executive Directors had assumed their respective positions and duties with immediate effect from February 6, 2023.

It added that the tripartite management board was reconstituted based on the provisions of the Act and following the expiration of the tenure of the former Chairman and non-executive members of the Board.

Oshundun said the new management board will be inaugurated by the Minister of Labour and Employment as soon as the security and other clearance processes of its memberships are completed by the security agencies and other affected bodies, on a date to be announced soon.

Appointed as Chairman of the Board was Chief Emmanuel Nwosu, a Fellow of the Nigeria Institute of Town Planners (FNITP), an urban planning and management expert, who is the immediate past chairman of the Nigeria Insurance Commission,

The new Managing Director/ Chief Executive is Mrs. Maureen Allagoa, a lawyer and Fellow of the Chartered Institute of Administration (FCIA).

Checks showed that Allagoa is the immediate former Executive Director, Administration, with broad experience in many blue chip companies.

Modu Gana retained his position as Executive Director/Member in the new board while Dr. Gabriel O.C. Okenwa fills the position of Executive Director (Administration)/Member.

Adedeji Babatunde Adegoke was appointed as the Executive Director (Finance & Investment)/Member.

He was promoted from General Manager Investment to Executive Director to fill the vacancy occasioned by the death of Mrs. Temitope Caroline Akinwale, the immediate past Executive Director Finance and Investment.

The other new members of the board are Comrade Marwan Mustapha Adamu and Comrade Adewale Adeyanju, both representing the Nigeria Labour Congress (NLC) and two representatives of Nigeria Employees Consultative Forum (NECA), Mr. Taiwo Adeniyi (the President, NECA) and Mrs. Celine Oni (Director, Learning and Development/Projects, NECA)

Representing the Federal Ministry of Labour and Employment in the reconstituted board is Lauretta Nneka Adaogu, the Director, Occupational Safety and Health (OSH) Department in the ministry.

The board also includes a nominee of the Central Bank of Nigeria (CBN) as member.