NSITF: Suspended MGT Mismanaged N48bn, Ngige Tells Reps

'Dotun Akintomide
Writer

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  • Alleges Officials’ Spouses Flew First Class

By Kolawole Ojebisi

Minister of Labour and Employment, Dr. Chris Ngige has alleged that the suspended management of the Nigeria Social Insurance Trust Fund (NSITF) misappropriated N48 billion.

He spoke on Tuesday at an investigative hearing of the House of Representatives.

Ngige stated that the management withdrew the amount through fake contracts, proceeds of which were recycled into private pockets.

The minister noted that irregularities characterized the payments of salaries and allowances in the organisation which he said had gulped N10million, stressing that the amount which could not be accounted for because it was not in line with the condition of service of the organisation.

The former Anambra governor claimed that the suspended management lived ostentatious lifestyles by going on leave abroad in first class with their spouses.

He alleged that they wilfully disregarded the rules guiding financial by paying themselves N9.8 million each without the approval of the Secretary to the Government of the Federation (SGF).

The minister accused them of engaging the services of legal practitioners at the sum of N180 million without the approval of the Attorney-General of the Federation (AGF).

Nigige added that the suspended management spent N146 million to acquire fleet of cars and on May 31, 2020, awarded 30 contracts worth N332 billion, split into smaller components of N49 million.

The splitting, he explained, was to enable the transactions to fall within the threshold allowed by law for the management to award.

The minister added that healthcare system was not spared of the alleged corrupt practices of the suspended NSITF management as he claimed they spent N570million on health insurance outside the National Health Insurance Scheme.

Ngige revealed that since 2012, the NSITF had not submitted records of its audited accounts to the Office of the Auditor-General of the Federation, in line with the extant laws.

He pointed out that these shocking findings have been reported to the Economic and Financial Crimes Commission (EFCC).

He said the anti-graft agency had since dragged the NSITF management to court on corruption charges.

Ngige stressed that their suspension was approved by President Muhammadu Buhari, following his recommendation.

When asked to tender documentary evidence of the presidential approval, the minister only showed a letter to the lawmakers, but refused to tender it as evidence.

The minister said he would consult with the President before tendering the letter approving the suspension.

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