House Of Reps To Investigate NSITF Over An Alleged Diversion Of N62.3bn

The house of representatives has resolved to investigate the Nigeria Social Insurance Trust Fund (NSITF) over an alleged fraudulent diversion of the sum of 62.3 billion naira by the angecy’s past board and management.

This is sequel to a motion brought to the floor of the house under matters of urgent national importance by member representing Aba North/South federal constituency of Abia state, Prestige Ossy at plenary.

member representing Aba North/South federal constituency of Abia state Prestige Ossy
member representing Aba North/South federal constituency of Abia state Prestige Ossy

Leading the debate the lawmaker stated that the EFCC had discovered various acts of fraudulent  diversion from the federal government and private sector contributions amounting to 62.3 billion naira as at 2015 which was allegedly perpetrated by the past board and management.

He explained that the perpetuation of this alleged fraud and the non- inaguration of the SITF board had thrown the agency into a state of confusion leaving it dead to its responsibilities to the general public.

Ossy expressed concern that the general public including several stockholders such as the Nigeria Labour Congress (NLC)  have been calling for a quick intervention into the non- inauguration of the NSITF board and alleged diversion of funds by its past board and management staff.

In one of the resolutions of the motion the house also directed its committee on Labour, employment and productivity to conduct an investigative hearing into the non inauguration of NSITF board.

The house thereafter referred the matter to its committee on Labour, Employment and productivity to  determine the financial position of the agency from 2011 till date and report back to the house in six weeks for further legislative input

 

 

 

By: Aisha Adesanya/Abuja

 

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