The Nigeria Social Insurance Trust Fund (NSITF) has confirmed\u00a0 that Termites ate up N17.1 billion vouchers which is a subject of Investigation before Senate Public Account Committee.<\/p>\n
However, the alleged N17.1 billion fraud is not under the present management of NSITF.<\/p>\n
The agency further explained that the 2018 Audit Report by the Office of the Auditor General of the Federation which raised 50 queries on\u00a0 misappropriation of N17.158b has nothing to do with the current Management, which came into office on June 1, 2021.<\/p>\n
In a statement in Abuja today, the fund said that though the current probe\u00a0 by the\u00a0 Senate\u00a0 Committee on Public Accounts is in exercise of its statutory oversight functions, \u201cit is overly important to inform the general public that what is under investigation, are not\u00a0 new infractions but a cumulative financial violations under the management that ran the agency between 2012 and 2017\u00a0 .<\/p>\n
\u201c These infractions are not new. They\u00a0 have in fact been subject of probe\u00a0 since the Office of the Auditor General of the Federation first raised the red flag in 2015. We make it clear therefore that the negative trails of these breaches, have nothing to do with the present management beyond assisting the Senate Committee, carry out its oversight functions, knowing full well, that government is a continuum.<\/p>\n
\u201cOn record, the\u00a0 Economic and Financial Crimes Commission(EFCC) has probed and taken the former Chairman of the Board and\u00a0 five other senior officials, including the Managing Director and three Directors to court over some of the issues .\u00a0 \u00a0Huge sums of money as well as property were also recovered, while some of the\u00a0 indicted staff members were equally removed from office.<\/p>\n
\u201c Indeed, when the Senate Committee initiated this current probe, the\u00a0 Managing Director , Dr. Michael Akabogu set up an internal committee to retrieve from First Bank and Skye Bank respectively,\u00a0 detailed\u00a0 transactions involving the fund under the period in probe. The documents\u00a0 were subsequently submitted to\u00a0 the Senate Committee.<\/p>\n
\u201c However , when the Senate\u00a0 Committee further called for the vouchers backing up the transactions , Dr. Akabogu requested that the former Managing Directors under whose tenures, the\u00a0 transactions were made,\u00a0 be invited to provide further answers especially with regards to the vouchers.<\/p>\n
\u201c The current management is not in possession of the vouchers and hence,\u00a0 informed the Senate Committee that the contents of the container in the premises of the fund, where the former Managing Directors allegedly left the vouchers have succumbed to the elements. And that this can be substantiated from memos, hitherto written by the fund\u2019s General Services Department on the state of the\u00a0 facility in question.<\/p>\n
\u201c This\u00a0 statement\u00a0 has become necessary to forestall further wrong finger-pointing\u00a0 and mischief in a section of the media directed at the current\u00a0 Management of the NSITF, which has charted a new course with strategic reforms , strongly anchored on transparency , and already, producing positive results.\u201d<\/p>\n
The Nigeria Social Insurance Trust Fund (NSITF) has confirmed\u00a0 that Termites ate up N17.1 billion vouchers which is a subject of Investigation before Senate Public Account Committee. However, the alleged…<\/p>\n","protected":false},"author":1,"featured_media":89813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-98233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n