Nigeria Social Insurance Trust Fund (NSITF) office. Photo: FACEBOOK/
The Senate, yesterday, indicated that the management of the Nigeria Social Insurance Trust Fund (NSITF) misappropriated about N84 billion within four years.
The chairman, Senate Public Accounts Committee, Mathew Urhoghide, who made the disclosure, described the agency as a cesspool of corruption.
“They depleted our resources, just a few human persons who are mindless,” he said, noting that the revelation came from 12 out 50 queries investigated so far by the committee. x
He said it was unfortunate that the management and board of NSITF colluded between 2012-2017 to carry out the alleged graft. “They are all guilty. They are implicated. They stole the place dry. The agency is most defiant and most notorious,” he said.
EXCLUSIVE: Full List Of 18 Government Agencies That Stole N54billion Revenue Despite Buhari s Anti-Corruption War saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.
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Published 16 June 2021
THE appointment of a new managing director and the reconstitution of a management board for the Nigeria Social Insurance Trust Fund by the President, Major General Muhammadu Buhari (retd.), might not rescue the outfit from its quagmire. Apart from the new appointments, the President also directed that “the former Managing Director of the Fund, Bayo Somefun, and three other former Executive Directors with the NSITF, are to refund to the treasury of the Fund a total of N181 million being alleged illegal overpayments in salaries and allowances.” The Senate is investigating N61.1 billion allegedly diverted by the NSITF in 2018.
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Published 15 June 2021
The management of the Nigeria Social Insurance Trust Fund is expected to appear before the Senate Public Accounts Committee today (Tuesday) to answer more questions on the query issued to it by the Auditor General for the Federation.
The SPAC is currently scrutinising the 2018 AuGF report, which indicted NSTIF management of allegedly diverting N61.1bn.
The AuGF’s query alleged that the NSTIF diverted N5.5bn from its account to Zenith Bank.
In another query, the NSTIF was alleged to have paid N38.2bn as personnel cost from 2012 to 2017 which was not approved by National Salaries, Income and Wages Commission.
Senate probes NSITF for alleged N61 1 billion diversion guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.