NASSIT Holds Board,Management Retreat

The National Social Security and Insurance Trust (NASSIT) from Thursday 18th to 20th July, 2019 held a retreat for Management, Board of Trustees and the Investment Committee of the Board at the Golden Tulip Kimbima Essential Hotel, Aberdeen in Freetown.

The three-day event was designed to apprise members of the Board on the various activities of the Trust, particularly its current investment portfolio.

Speaking to the participants, the NASSIT Director General, Mohamed Fuad Daboh welcomed them to the retreat which he described as very pivotal to the existence of the Trust.  According to him, the retreat would lay a platform to school new entrants into the governance structure of the Trust, especially the Board Investment Committee members, and the Trustees’ role as supervisors that superintend the affairs of the Trust. He furthered that the retreat would review the current investment portfolio of the Trust for proper monitoring and implementation. 

The Director General drew the attention of members to Section 7 of the NASSIT Act (Act No. 5 of July 2001) which empowers NASSIT to invest surplus funds to complement benefit payments. According Mr. Daboh, there are critical provisions of the Section which give guidelines as to how the Trust’s investment portfolio should be carried out.

He said Management would lead members into the issues that they would be challenged with as a Committee in the dispensation of their duty and to also inform new entrants about the entire portfolio of the Trust’s investment in order to enable them to make sound judgment in their future deliberations.  The Director General concluded by registering his Management’s commitment to support the decision of the Board and to cooperate in the execution of the mandate of the Act.

On his part, the Chairman Board of Trustees, Prof. Joseph Lawrence Kamara joined the Director General in welcoming members to the retreat.  He congratulated the Investment Committee members on their appointments in his first meeting with them.  The Board Chair expressed gratitude to the Committee for the commitment they have demonstrated in the short time of their appointment. 

He called on them to be faithful and committed to their national call as the future of the scheme, he said, rests on the decision of the Board. Presentations and discussions climaxed the three-day retreat.