The Nigeria Social Insurance Trust Fund (NSITF) management has been directed by the House of Representatives to provide approval evidence for the N87 billion allegedly spent on contracts, irregular salaries, and other payments.
The Public Accounts Committee issued the directive based on an audit report presented by the Federation’s Auditor General’s Office.
According to the report, NSITF was allegedly implementing a salary structure and paying irregular allowances to its employees that were not approved by the National Salaries, Incomes, and Wages Commission.
It went on to say that the implementation resulted in irregular payments of N38.219 billion in salaries and N1.872 billion in allowances.
The AUGF audit further alleged that the managing director and three executive directors of the fund were paid about N69 million as executive management allowances for housing, furniture and generator in 2017.
It added that NSITF allegedly transferred over N17 billion to some unnamed persons and companies between 2013 and 2018 without payment vouchers and other supporting documents of the transactions.
The chairman of the committee, Wole Oke (PDP, Osun) stated that the AUGF report had requested the NSITF management to explain and provide evidence of how the monies were spent without the necessary approvals or face sanctions.