Bayo Somefun News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Advertisement The NSITF has been in the news after Bayo Somefun, its former managing director, and some board members were accused of corrupt practices and misappropriation of funds. This followed a probe by the senate, which revealed that the management had allegedly misappropriated N84 billion in four years. President Muhammadu Buhari had subsequently ordered the sack of the management and constituted a new board. Advertisement Speaking at a media briefing in Abuja on Thursday, Akabogu, while noting that a lot of negative issues have been associated with the NSITF since 2012, said the new e...

Punch Newspapers Sections 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.�...

President Muhammadu Buhari has sacked the management of Nigeria Social Insurance Trust Fund (NSITF) over an alleged N3.4 billion fraud.

The officials were removed Tuesday having earlier been suspended indefinitely.

Punch Newspapers Sections Published 1 June 2021 THE President, Major General Muhammadu Buhari (retd.), has approved the sacking of the top management staff of the Nigeria Social Insurance Trust Fund over alleged N3.4bn fraud. The NSITF Managing Director and Chief Executive, Bayo Somefun, and the Executive Directors in charge of Finance, Jasper Azuatalam; Investment, Operations, and Administration, Tijani Sulaiman and Human Resources, Mrs Olukemi Nelson, were also relieved of their positions. Also dismissed were the nine top management officers hitherto on suspension alongside the MD and EDs. ...