Members of NLC protesting at Federal Secretariat Abuja over Minister of Labour actions to NLC Members . Photo by Gbemiga Olamikan
Inaugurating the board, the Minister of Labour and Employment, Senator Ngige recalled the alleged fraud uncovered under the past NSITF management which had been investigated by the Economic and Financial Crimes Commission, EFCC. “Extensive investigations, both for financial crimes and administrative breaches had to be carried out in the NSITF with outcomes in the form of reports and recommendations that have provided guides for the formation of a new and better NSITF where a new board can thrive and efficiently discharge its statutory functions,”
The Minister commended the current management of the NSITF, led by its Managing Director, Adebayo Somefun, for improving the fortunes of the Fund and implementing its statutory mandate, but enjoined it to work in harmony with the new Board to continually improve staff welfare and other indices needed to make the Fund function optimally.
“The affected Officers have now been shown the way out, and many more indicted Officers by the Auditor General’s Periodic Report on the NSITF will soon be made to refund the monies illegally taken from the Fund. The Auditor General of the Federation had to be requested by us in 2017 when it became clear that there was no Audited Account for the place for five years, past to undertake the Constitutional periodic check.
“The Single Treasury Account is in place and has made sure that the issue of multiplicity of accounts and investment are handled and undertaken wisely. The Bureau of Public Procurement has vetted and appointed very few Consultants for collection for a period of time. He admonished the members to ensure proper conduct of the affairs of the Agency to “restore the confidence of the Nigerian Public in the administration of the fund collected for the execution of the Employees’ Compensation Act , 2010 which is now the major mandate of the Fund, especially in view of the fact that it is the funds contributed by the Public and Private Sectors to execute this mandate.
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