Reps to probe N2.3bn fraud in NSITF

The House of Representatives on Wednesday resolved to probe alleged fraud of N2.3 billion in the Nigeria Social Insurance Trust Fund (NSITF).

The management of the NSITF had claimed that it sponsored its staff on training with the fund, but the staff members denied participating in any training sponsored by the agency.

However, what has become a matter of concern for the lawmakers is why the management in the first place should spend about N2.3 billion on staff training without the board or the supervising ministry’s approval.

The House, therefore, resolved to investigate the agency’s claims that it spent billions of naira in settling debts to contractors without providing the board or the supervising ministry with details of such payment.

The lawmakers decided to probe the agency following a motion sponsored by Francis Ejiroghene Waive (PDP, Delta) on the need to investigate activities of the NSITF.

In his motion, Waive drew the attention of his colleagues to a media report alleging a fraud of N2.3 billion against NSITF.

According to him, the agency carried out its activities without the authorization of the board of or the Federal Ministry of Labour and Employment as the transaction exceeded the spending threshold of the management.

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He added that the report showed that the NSITF management allegedly awarded multi-million naira contracts for the construction of office complex in 12 states and approved millions of naira as duty tour allowances for trips, in contravention of a recent directive from the Presidency on foreign trips.

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