NSITF Comes Under Fire By SPAC For Alleged Squander N17.158b
The past and current management of the Nigeria Social Insurance Trust Fund (NSITF) has come under perusal by the Senate Public Accounts Committee (SPAC) for failure to produce relevant documents addressing the alleged spending of N17.158 billion in 2013. According to the Nation, some of the documents to back up the expenses were eaten up by termites. Office of the Auditor General of the Federation (OAuGF), had in its 2018 audit report – now being considered by the Senate panel chaired by Senator Matthew Urhoghide (Edo South) -queried the agency over the disbursed sums without appropriate supporting documents. In his report, the OAuGF said the N17.158 billion was in fact the total sum of money that was transferred by the agency from its Skye and First Bank accounts, into various untraceable accounts belonging to individuals and companies between January and December 2013. The OAuGF had, in its 2018 audit report, raised 50 different queries bordering on alleged misappropriation of funds