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, 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.

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 said though the EFCC is 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.

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, 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.

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 said though the EFCC is 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.