FG to probe mismanagement of N62.3bn in NSITF

The Federal Government has constituted an administrative panel of inquiry to investigate how N62.3 billion was mismanaged by the former management and board of the Nigeria Social Insurance Trust Fund (NSITF).

The Minister of Labour and Employment, Dr.Chris Ngige, who inaugurated the panel on Thursday announced a compulsory 30 days leave in the first instance for officers of the Fund to enable the panel carry out its assignment without hindrance.

He said those to proceed on compulsory leave are the General Manager, Legal, Adebayo A. Aderibigbe; Deputy General Manager, Finance, Henry Ekhasomi; General Manager, Social Security, Ishmael Agaka; Deputy General Manager, Internal Audit, Zwalda Ponkap; General Manager, Information, Catherine Ugbe and General Manager, Compensation, Dr. Kelly Nwagha.

The minister said the nine -member panel headed by the Director of Finance and Accounts of the Federal Ministry of Labour and Employment, Ishaya A. Awotu, would look into the financial state of the NSITF with a view to purging it of all negative trails inflicted on it by the last board and management.

Ngige said: “As you may be aware, the last Board and Administration of the NSITF left negative trails inimical to any advancement and progress for both the human and infrastructural components of the NSITF.

“The Economic and Financial Crimes Commission (EFCC) had discovered various acts of fraudulent diversions from the Federal Government and Private Sector Contributions amounting to N62.3 billion as at 2015, allegedly perpetrated by the past board and management staff of the NSITF.”

He added that though the EFCC was already handling the criminal investigations leading to the prosecution of the former Managing Director, General Manager, Legal and the Deputy General Manager, Finance and Accounts, it was important to further unearth the administrative machinery that made the looting of such a colossal sum of public fund possible and forestall its reoccurrence.