Nigeria’s Minister of Labour and Employment, Sen. Chris Ngige, has alleged that the suspended management of the Nigeria Social Insurance Trust Fund (NSITF), misappropriated N48 billion through fake contracts, proceeds of which were recycled into private pockets.
Ngige who made the allegation at an investigative hearing at the House of Representatives on the alleged illegal suspension of the management of the agency, also claimed that there were irregular payments of salaries and allowances of N10 million not in line with the condition of service of the organisation or any reference to the Office of the Minister.
Ngige further accused the suspended management of going abroad in first class with their spouses and paid themselves N9.8 million each without the approval; spending 146 million on vehicles, and on May 31, 2020, awarded 30 contracts worth N332 billion, broken into smaller components of N49 million to enable the transactions fall within the threshold allowed by law.
On the alleged illegal suspension of the NSITF management, Ngige said that their suspension was approved by President Muhammad Buhari, following his recommendation, and he would consult with the President before tendering the letter approving the suspension as documentary evidence to the lawmakers.
Recall that the Managing Director of NSITF, 3 of its Executive Directors, and 8 other senior management staff were suspended indefinitely earlier this month, over financial breaches and gross misconduct.