NSITF

The Nigeria Social Insurance Trust Fund (NSITF) has alleged that termites ate up documents justifying the spending of N17.158 billion by the agency's ...

We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages. Consequently, the purpose(s) for the transfers could not be authenticated,” the query said. Responding to a question on the timing of the election, Mr Oladitan said that the commission was conducting the election in obedience with the 1999 Constitution. “Management of NSITF, as shown in statements of account number 1750011691 with Skye Bank Plc, for the period January 1, 2013, to December 20 2013, and statements of account number 2001754610 with First Bank Plc for the period January 7, 2013, to February 28, 2013, transferred amounts totalling N17,158,883,034.69 to some persons and companies from these accounts. However, the NSITF boss told the committee that he informed the agency’s past management officers to help answer the query with the necessary documents. According to him, the container the documents were kept was abandoned in an isolated area on the agency’s premises in Abuja.

The present and past management of the Nigeria Social Insurance Trust Fund (NSITF) have come under fire in the Senate for failing to justify.

Vouchers shall be made out in favour of the person or persons to whom the money is actually due. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Specifically on the N17.158billion unsubstantiated transfers made by NSITF , the query read: “ Management of NSITF as shown in statements of Account No. 1750011691 with Skye bank plc, for the period 1st January, 2013 to 20th December, 2013, and Statements of Account No.2001754610 with First Bank Plc for the period 7th January, 2013 to 28th February, 2013, transferred amounts totalling N 17,158,883,034.69billion to some persons and companies from these accounts.

The Nigeria Social Insurance Trust Fund (NSITF) says termites have eaten most of the vouchers containing details of how N17.158 billion yet to be accounted ...

Vouchers shall be made out in favour of the person or persons to whom the money is actually due. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Irked by submissions of the past and present NSITF officials, the committee chairman, Senator Urhoghide, ordered them to reappear before the committee with all the requested evidential documents unfailingly on Thursday, September 22, 2022. In sustaining or vacating the query, the Senate committee headed by Senator Matthew Urhoghide (PDP Edo South) interrogated NSITF’s past and present managements on where monies totalling N17.158billion were transferred to between January and December 2013. The N17.158 billion, as stated in the 2018 audit report, was the total amount of money transferred by NSITF from its Skye Bank and First Bank accounts into various untraceable accounts belonging to individuals and companies from January to December 2013. TheNewsGuru.com reports that the NSITF made this disclosure to the Senate that is interrogating NSITF’s past and present managements on where monies totalling N17.158 billion were transferred to between January and December 2013.

The Senate Public Accounts Committee (SPAC) says it has discovered that the management of Nigeria Social Insurance Trust Fund (NSITF) failed to produce ...

Vouchers shall be made out in favour of the person or persons to whom the money is actually due’. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. In his ruling, Urhoghide expressed worry over the development and ordered both members of past and present management of the NSITF to re-appear before the panel with all necessary evidence concerning the transactions unfailingly on Thursday, September 22, 2022. The Chairman of the Senate Committee, Urhoghide, had summoned and interviewed NSITF’s past and present managements on where the said N17.158 billion was transferred to between January and December 2013. Members of management in charge of the agency in 2013 had told the committee that relevant cash vouchers pertaining to the transactions were left behind by them. In his report, the AuGF said the N17.158 billion represented the total sum of money, 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, Nation reported.

Nigeria Social Insurance Trust Fund (NSITF), has told the Senate Committee on Public Accounts that some of the documents to back their.

Vouchers shall be made out in favor of the person or persons to whom the money is actually due’. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Members of management in charge of the agency in 2013 had told the committee that relevant cash vouchers pertaining to the transactions were left behind by them. But the current General Manager, Finance of the agency allegedly said that the container in question had been under lock and key and abandoned in an isolated area within the premises of the organisation in Abuja. The committee said it discovered that the fund’s management failed to produce relevant documents to justify alleged spending of N17.158 billion in 2013. Nigeria Social Insurance Trust Fund (NSITF), has told the Senate Committee on Public Accounts that some of the documents to back their expenses were said to have been eaten up by termites.

THE management of the Nigeria Social Insurance Trust Fund, NSITF, on Monday assured Nigerians that the 2018 Audit Report by the Office of the Auditor General of ...

And that this can be substantiated from memos, hitherto written by the fund’s General Services Department on the state of the facility in question. The documents were subsequently submitted to the Senate Committee. We make it clear therefore that the negative trails of these breaches, have nothing to do with the present management beyond assisting the Senate Committee, carry out its oversight functions, knowing full well, that government is a continuum.

Details of expenditure are contained in the 2018 Audit Report of the Office of the Auditor General of the Federation (OAuGF).

Vouchers shall be made out in favour of the person or persons to whom the money is actually due. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Good journalism costs a lot of money. The past management that headed the agency in 2013 told the panel that they left behind the relevant cash vouchers for the the transactions. Details of this expenditure and more are contained in the 2018 audit report of the Office of the Auditor General of the Federation (OAuGF). These documents are said to contain details of spendings by the agency in 2013.

Hukumar Kula da Inshorar al'umma ta Najeriya NSITF ta shaida wa Majalisar Dattawan Kasar cewa, gara ta cinye takardun da ke kunshe da bayanai kan yadda ...

Manaja Darektan NSITF na yanzu, Dr. Michael Akabogu ya bayayna cewa, babu wasu takardu mai nasaba da kudaden da ake bincike a kai da ya tarar a ofishinsa. A shekara ta 2018 ne rahotan binciken kudaden da aka kashe ya bayyana cewa, Asusun na NSITF ya yi amfani da bankunan Skye da First Bank wajen tura Naira biliyan 17.158 zuwa ga asusun bankunan wasu daidaikun mutane da kamfanoni daga watan Janairu zuwa Disambar shekarar 2013. An dai gaza tantance ainihin makasudin aika makuden kudaden zuwa ga wadannan bankunan na daidaikun mutane da kamfanoni biyo bayan ikirarin NSITF na cewa, gara ta cinye takardun da ke fayyace musabbabin aika kudaden.

Documents containing evidence of N17.158 billion expenditure of the Nigeria Social Insurance Trust Fund (NSITF) has reportedly been eaten by termites and |

The Senate Public Accounts Committee (SPAC) has been probing the Trust Fund over the untraceable funds, and has demanded that the representatives of the NSITF to provide the documents on Thursday, September 22, 2022. Recall that the NSITF has been under probe after the Office of the Auditor General of the Federation (OAuGF) stated that the N17.15 billion was transferred to Skye Bank (now Polaris Bank) and First Bank accounts. Documents containing evidence of N17.158 billion expenditure of the Nigeria Social Insurance Trust Fund (NSITF) has reportedly been eaten by termites and destroyed by rain.

The Nigeria Social Insurance Trust Fund (NSITF) has been unable to provide documents to prove before the Senate, how it spent oN17.16 billion in 2013, ...

Vouchers shall be made out in favour of the person or persons to whom the money is actually due. “As directed by this committee, I told the past management officers about the need for them to help us out in answering this query with necessary documents which have not been made available for us.” The NSITF, which appeared before the senate committee on public accounts, could not justify the purpose(s) for the transfers as the payment vouchers relating to the transfers together with their supporting documents were not provided for audit.

Onyebuchi Ezigbo. The Nigeria Social Insurance Trust Fund (NSITF) has stated that the 2018 audit report by the Office of the Auditor General of the ...

The documents were subsequently submitted to the Senate Committee.” They have in fact been subject of probe since the Office of the Auditor General of the Federation first raised the red flag in 2015. “The current management is not in possession of the vouchers and hence, informed the Senate Committee that the contents of the container in the premises of the fund, where the former Managing Directors allegedly left the vouchers have succumbed to the elements.

The Nigeria Social Insurance Trust Fund (NSITF) has said the 2018 report by the Auditor-General of the Federation has nothing to do with the current.

The official said the documents were submitted to the Senate and when they called for the vouchers showing the transactions, Akabogu requested that the former MD be invited to provide further answers. Okoronkwo said the EFCC took the former NSITF board chairman and five other senior officials, including the Managing Director and three Directors, to court over some of the issues. The Nigeria Social Insurance Trust Fund (NSITF) has said the 2018 report by the Auditor-General of the Federation has nothing to do with the current management.

The management of the Nigeria Social Insurance Trust Fund (NSITF) has failed to justify spending the sum of N17.158 billion...

As directed by this committee, I told the past management officers on the need for them to help us out in answering this query with necessary documents, which have not been made available to us,” Akabogu said. However, the past did present man agent of the NSITF failed to offer satisfactory explanations on the undocumented multiple transfers. Vouchers shall be made out in favour of the person or persons to whom the money is actually due. “However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Michael Akabogu, managing director NSITF told the senate public account committee hearing that termites ate N17.1 billion vouchers inside a container in their office. “This committee has given you people more than enough time to respond to queries slammed on NSITF in the 2018 Audit report by the office of Auditor General of the Federation. The queries are 50 in number ranging from one misappropriation to the other in billions of Naira,” Urhoghide said.

The Nigeria Social Insurance Trust Fund (NSITF) says its current management which came into office in June 2021 has nothing to do with the alleged ...

“The current management is not in possession of the vouchers and hence, informed the senate committee that the contents of the container in the premises of the fund, where the former managing directors allegedly left the vouchers have succumbed to the elements,” she explained. Okoronkwo said that the contents of the container where the payment vouchers used for the N17.15 billion transactions were allegedly kept have been damaged. “However, when the senate committee further called for the vouchers backing up the transactions, Dr. Akabogu requested that the former managing directors under whose tenures the transactions were made, be invited to provide further answers especially with regards to the vouchers.”