Home / News / NSITF: N48bn proceeds entered pockets; officers, spouses flew first-class – Ngige

NSITF: N48bn proceeds entered pockets; officers, spouses flew first-class – Ngige

NSITF: N48bn proceeds entered pockets; officers, spouses flew first-class – Ngige

The Minister of Labour and Employment, Chris Ngige, has alleged that the suspended administration of the Nigeria Social Insurance coverage Belief Fund (NSITF), misappropriated N48billion.

He spoke on Tuesday at an investigative listening to on the Home of Representatives.

Ngige acknowledged that the administration withdrew the quantity by means of faux contracts, proceeds of which had been recycled into personal pockets.

The minister mentioned there have been irregular funds of salaries and allowances of N10million not in step with the situation of service of the organisation.

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The previous Anambra governor claimed that the suspended administration went on go away overseas in first-class with their spouses.

He alleged that they paid themselves N9.8million every with out the approval of the Secretary to the Authorities of the Federation (SGF).

The minister accused them of participating the companies of authorized practitioners on the sum of N180million with out the approval of the Legal professional-Normal of the Federation (AGF).

Nigige added that they spent N146million on automobiles, and on Could 31, 2020, awarded 30 contracts price N332billion, splitted into smaller parts of N49million.

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The splitting, he defined, was to allow the transactions to fall inside the threshold allowed by legislation for the administration to award.

The minister added that the suspended NSITF administration spent N570million on medical health insurance outdoors the Nationwide Well being Insurance coverage Scheme.

Ngige revealed that since 2012, the NSITF had not submitted data of its audited accounts to the Workplace of the Auditor-Normal of the Federation, in step with the extant legal guidelines.

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He identified that the Financial and Monetary Crimes Fee (EFCC) had since dragged the NSITF administration to courtroom on corruption fees.

Ngige confused that that their suspension was accredited by President Muhammad Buhari, following his suggestion.

When requested to tender documentary proof of the presidential approval, the minister solely confirmed a letter to the lawmakers, however refused to tender it as proof.

The minister mentioned he would seek the advice of with the President earlier than tendering the letter approving the suspension.

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