N84 Billion Fraud: Senate Panel Summons NSITF Former MDs Over Disappearance of Vital Documents

Former Managing Directors of the Nigeria Social Insurance Trust Fund (NSITF) have been summoned by the Senate Committee on Public Accounts to appear before it on Tuesday July 6.

This is as the ongoing probe of government Ministries, Departments and Agencies (MDAs) by Senator Mathew Urhoghide led Public Accounts Committee stumbled on unaccounted sum of N84 billion believed to have been stolen by the former Managing Directors and other top officials of NSTIF.

Among the former Managing Directors of NSTIF that are expected to appear before the Committee are Alhaji Umar Munir Abubakar, Adebayo Somefun and former Chairman of the agency, Ngozi Olejeme.

Also, the Committee uncovered series of queries raised by the Auditor-General of the Federation over the suspicious expenditures that haven’t been cleared before they left office.

The infraction, the Committee recalled led to controversial exit of some of the Directors of NSTIF.

At the commencement of the investigation last week, the Committee could only rely on Auditor-General’s report to interrogate the current accounting officers, as vital documents that would have further assisted the Senate panel were said to have been stolen from the agency.

Senator Urhoghide said: “Out of 50 queries of the Auditor General of the Federation, the Committee was able to establish that N84 billion has been misappropriated by the officials of the agency.”

NSTIF’s newly appointed Executive Director of Finance and Investment, Mrs Carolina Akinwade in her earlier response to questions of lawmakers informed the panel that she never met documents that has anything to do with the contentious N84 billion.

She however admitted that the former Managing Directors were being prosecuted in Court by the Economic and Financial Crimes Commission (EFCC).

Senator Urhoghide in his remarks, expressed disappointment on the rate government officials embezzled funds while in office, while he insisted that the current management should look for documents and produce them.

“We can no longer take excuse that there is no record for the mentioned financial transactions, go back to your office and look for it and we are also inviting the former Managing Directors of the NSTIF. They are to appear before us on Tuesday,” he said.


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