Era of looting spree gone in NSITF, says FG

The federal government says the era of looting billions of naira without a single voucher in the Nigeria Social Insurance Trust Fund (NSITF) is gone.

The Minister of Labour and Employment, Chris Ngige, stated this in Abuja while inaugurating the NSITF’s newly reconstituted management board.

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He said the NSITF had passed through financial haemorrhage in the last few years.

“We must live down the past and lead a rewarding change in the fortunes of the NSITF. The years of the locust are now over. You can’t afford to take us back to Egypt. The era of looting of N48bn without a single voucher is gone for good,” Ngige said.

President Muhammadu Buhari had on Monday sacked the Managing Director and other top management staff over financial infractions witnessed in the agency and appointed the new leadership to pilot its affairs.

Ngige urged the new board to ensure that procurements must be done as contained in the Procurement Act 2007 and the Finance Act as well as financial regulation and the extant government circulars, especially on threshold of procurement items.