The Management of the Nigeria Social Insurance Trust Fund (NSITF) has dismissed the allegation of award of frivolous projects, insisting that all contracts by the Fund, were properly evaluated, awarded and executed in line with due process.
The Management also re-stated commitment to the implementation of a new salary structure that will be free of erroneous computations, and critically reflective of the financial reality in the fund, with the full participation of the two staff unions in the agency.
A statement by the General Manager of Corporate Affairs of the NSITF, Mrs. Ijeoma Oji-Okoronkwo said: “ it was unfortunate that the fund’s staff union was influenced and misguided into a needless disruption of the activities in the agency, today 16th March, 2023 by the fund’s leadership that was shoved out for incompetence, in alliance with the national leadership of Association of Senior Staff of Banks Insurance and Financial Institutions (ASSBIFI) making true its earlier threat, to breach industrial peace in the fund.
Addressing the claims raised by the union, the Fund stated that “the allegation of frivolous and white elephants projects being awarded and implemented are unfounded, as every contract goes through a laid down process, including NEEDS assessment before bidding.
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“Every contract in the fund is first evaluated to determine its impacts and usefulness before bidding. Indeed, the current E-NSITF is in line with the Federal Government mandate on e-business and thus, received all the necessary endorsements from the Federal Executive Council(FEC) before its implementation.
Okonkwo said the new salary structure earlier approved was found to be riddled with errors and replete with vague details, hence, necessitating clarification that will require time for proper computation which is being handled by the National Salaries Income and Wages Commission (NSIWC) that has promised to correct the anomalies and re-issue a 2023 wage structure that will still take effect from January 2023.