Senate invites former Trust Fund MDs to explain roles in alleged N84bn fraud

The Senate has directed former Managing Directors of the Nigeria Social Insurance Trust Fund (SITF), to appear before it on Tuesday to explain the circumstances that led to alleged missing financial documents in the agency.

According to the notice of summons contained in the Senate bulletin, the former NSITF MDs are to appear before the Senate Public Accounts Committee (SPAC).

The Chairman of the Committee, Senator Matthew Urhoghide, at the last meeting of his panel on Friday, said 50 queries were issued against the NSITF officials by the office of the Auditor General for the Federation (AuGF).

Urhoghide added that the ex-NSITF bosses were invited following failure of the officials of the agency to respond to the queries of the AuGF regarding some alleged financial infractions.

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“12 out of the 50 queries of the Auditor General of the Federation so far reviewed by the committee revealed that N84bn had allegedly been misappropriated by some officials of the NSITF.

“We can no longer take excuses that there is no record for the mentioned financial transactions,” the SPAC Chairman said.

The Senator added that the committee discovered that the agency was unable to present any financial documents relating to the issues raised by the committee.

It was also gathered that the Economic and Financial Crimes Commission (EFCC) was already prosecuting some of the former managing directors of NSITF over their alleged involvement in the financial infractions.

By Isaac Dachen…

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