DAMNING: Ngige reveals how NSITF Management squandered N48bn with spouses, others
Afnews Editor
Jul 22, 2020
The Minister of Labour and Employment, Chris Ngige, has alleged that the suspended management of the Nigeria Social Insurance Trust Fund (NSITF), misappropriated N48billion.
READ ALSO: Sowore's Miscalculation and the Need to beat a Wise Retreat
He spoke on Tuesday at an investigative hearing at the House of Representatives.
READ ALSO: Abia Govt Clears Air On The Alleged Plan To Demolish Market In Aba | SEE DETAILS
Ngige stated that the management withdrew the amount through fake contracts, proceeds of which were recycled into private pockets.
READ ALSO: HOW 115 Victims Were Recovered After Devastating Niger Flood - NSEMA Confirms | READ DETAILS
The minister said there were irregular payments of salaries and allowances of N10million not in line with the condition of service of the organisation.
READ ALSO: I Will Not Allow Criminality As President, Peter Obi Declares
The former Anambra governor claimed that the suspended management went on leave abroad in first class with their spouses.
READ ALSO: [B00M] Tension in Nigeria, Northern Elders cry out | READ DETAILS
He alleged that they paid themselves N9.8million each without the approval of the Secretary to the Government of the Federation (SGF).
READ ALSO: H0T: Focus on problems you created, Atiku blast APC, Presidency | READ DETAILS
The minister accused them of engaging the services of legal practitioners at the sum of N180million without the approval of the Attorney-General of the Federation (AGF).
Nigige added that they spent N146million on vehicles, and on May 31, 2020, awarded 30 contracts worth N332billion, splitted into smaller components of N49million.
READ ALSO: Why El-Rufai Was Returned To ICPC Custody?
The splitting, he explained, was to enable the transactions to fall within the threshold allowed by law for the management to award.
READ ALSO: Again Burna Boy Sells Out Arena In US
The minister added that the suspended NSITF management spent N570million on health insurance outside the National Health Insurance Scheme.
READ ALSO: How PDP Chairman Died During Town Hall Meeting In Enugu | READ IN FULL
Ngige revealed that since 2012, the NSITF had not submitted records of its audited accounts to the Office of the Auditor-General of the Federation, in line with the extant laws.
He pointed out that the Economic and Financial Crimes Commission (EFCC) had since dragged the NSITF management to court on corruption charges.
Ngige stressed that that their suspension was approved by President Muhammad Buhari, following his recommendation.
READ ALSO: Sowore's Miscalculation and the Need to beat a Wise Retreat
When asked to tender documentary evidence of the presidential approval, the minister only showed a letter to the lawmakers, but refused to tender it as evidence.
READ ALSO: Abia Govt Clears Air On The Alleged Plan To Demolish Market In Aba | SEE DETAILS
The minister said he would consult with the President before tendering the letter approving the suspension.
Related Stories
REVEALED: How All Progressives Congress (APC) Played Into The Opposition Hands Ahead Of 2027 - Sumner Sambo Warns
I Will Not Allow Criminality As President, Peter Obi Declares
Why El-Rufai Was Returned To ICPC Custody?
Sowore's Miscalculation and the Need to beat a Wise Retreat
Tinubu Breaks Silence on Hardship, Inflation, Power Crisis - Vows Nigeria Will Overcome Economic Storm
"Terrorists Have Outgunned Our Troops" - Ndume Raises Alarm Over Boko Haram War, Sends Urgent Message To Tinubu
""
— Afnews Editor