#nsitf

NSITF Seeks EFCC’s Intervention against Forgery of Its Certificates The Nigeria Social Insurance Trust Fund, NSITF has sought the assistance of the Economic and Financial Crimes Commission, EFCC to stem the tide of forgery of its certificates by fraudulent companies and individuals for the purpose of securing contracts. The appeal was made on Friday, May 31, 2024 when the Regional Manager of…

NSITF Workers Threaten showdown With Management Over Alleged Misappropriation of Funds

The workers of the Nigeria Social Insurance Trust Fund, NSITF, under its union have threatened to embark on industrial unrest if the management of the agency does not attend to their demands in one week’s time. An insider who disclosed this to The Accurate News said the organization has been enmeshed in a series of controversies ranging from misappropriation of funds contributed by employers of…

Tension As Termites Eat Up N17.128B Expenditure Evidence At NSITF

The Senate Public Accounts Committee (SPAC) has put the current and past management of the Nigeria Social Insurance Trust Fund (NSITF) under scrutiny.   The committee said it discovered that the fund’s management failed to produce relevant documents to justify alleged spending of N17.158 billion in 2013.   Some of the documents to back the expenses were said to have been eaten up by termites,…

Termites Ate Vouchers Of Our N17.1bn Spending, NSITF Tells Senate

The Nigeria Social Insurance Trust Fund (NSITF) has told the Senate that termites have eaten most of the vouchers containing details of how N17.158 billion yet to be accounted for was spent. The N17.158 billion, as stated in the 2018 audit report, was the total amount of money transferred by NSITF from its Skye Bank and First Bank accounts into various untraceable accounts belonging to…

N87bn Misappropriation: Auditor General Office Gives NSITF 50 Queries

The Office of the Auditor-General for the Federation has raised 50 audit queries against the Nigeria Social Insurance Trust Fund (NSITF), which bothered on how the Agency reportedly mismanaged a whopping N87 billion without the necessary approvals or evidence of such expenditures. The audit report also alleged undue ministerial interference in the management of the finances of the Fund in…

Reps panel wants NIMASA, NSITF officials prosecuted by EFCC

The Committee on Public Accounts of the House of Representatives has recommended that former and serving management staff of several Ministries, Departments and Agencies of the Federal Government be prosecuted by the Economic and Financial Crimes Commission for failing to render audited accounts. The committee also asked several MDAs to refund monies released to them by the Federal Government for…

NSITF faces Reps over fresh N17bn illegal transfer, 50 queries listed

The House of Representatives’ Committee on Public Accounts, on Tuesday, grilled the Managing Director of the National Social Insurance Trust Fund, Michael Akabogu, over the transfer of a total of N17,158, 883,034.69 to persons and companies without payment vouchers and other supporting documents provided for audit. The Office of the Auditor-General of Federation, in an audit query issued against…