The swearing in ceremony of a new set of Trustees for the National Social Security and Insurance Trust (NASSIT) took place on Friday, 15th February, 2019 at the Conference Room of the NASSIT headquarters at Walpole Street in Freetown. Speaking during the ceremony, the NASSIT Director General, Mr. Mohamed Fuaad Daboh, who earlier introduced his team of Directors and other Management staff, congratulated the Trustees on their appointment as members of the Board.
He reiterated that decision-making in NASSIT is centred on the Board of Trustees headed by the Chairman, Professor Joseph A.L. Kamara, and on Management headed by the Director General. He went on to describe the NASSIT Board as unique in the sense that members are referred to as Trustees who have the responsibility to govern and exercise oversight responsibility in the administration of the scheme, while management is responsible for the day-to-day administration of the scheme.
Mr. Daboh reminded all that Trustees are not Board of Directors, and that they have a duty to exercise a reasonable standard of care on behalf of all the beneficiaries of the scheme. He spoke about the Trust’s intention to roll out an attractive social security scheme that will appropriately address the special needs of workers in the informal sector, the opening of a Regional Office in the Northwest region of the country, and compliance, investments and benefits issues. The Director General called for a cordial working relationship between Management and the Board of Trustees, which he said is key if the Trust is to succeed in rebranding the image of the institution.
In his address, the Chairman of the Board of Trustees, Professor Joseph Aruna Lawrence Kamara noted that as Trustees, they have a huge responsibility to ensure that things are done the right way. Describing NASSIT as a delicate institution, the Chairman called on Management to comply with the rules and regulations governing the scheme. He assured of a good working relationship between the Ministry of Labour and Social Security, the Board of Trustees and NASSIT.
In his statement, the Minister of Labour and Social Security, Hon. Adekunle King, reminded Trustees of their fiduciary responsibility, saying that they owe a duty of loyalty to the beneficiaries of the scheme. He called on both Management and the Board to collaborate and work together for the progress and success of the scheme.
The occasion was climaxed by the swearing-in of the following Trustees by the Ag. Director of Legal Affairs and Board Secretariat, Elizabeth Cole: Professor Joseph A.L. Kamara as Chairman, Mr. Ahmed M. Mustapha representing the Ministry of Social Welfare, Gender and Children’s Affairs, Mr. Magnus B. Musa representing the Ministry of Labour and Social Security, Mr. Osman Pius Conteh representing the Insurance Association, Mr. Fayia M. Tucker representing Civil Servants Association, Mr. Kobie Walker and Mr. Albert Collier both representing the Employers’ Federation, Mr. Nazir Kamanda Bongay representing the Forces, Mr. Foday Sadique Fofanah representing the Pensioners’ Association, Professor Moinina Kallon representing the Bank of Sierra Leone, and Mohamed Fuaad Daboh, NASSIT Director General