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From Adanna Nnamani, Abuja
The Nigeria Social Insurance Trust Fund (NSITF) has vehemently denied accusations of financial mismanagement leveled against it by the Transparency and Accountability Group (TAG), dismissing them as baseless and unfounded.
In a statement released in its Manager of Corporate Affairs, Nwachukwu Godson, NSITF labeled the allegations as mere attempts by extortionists and detractors to undermine the agency’s efforts. The statement affirmed NSITF’s commitment to pressing forward with its reform agenda despite the smear campaign.
The NSITF refuted claims surrounding the employment of its Managing Director/Chief Executive, asserting that the appointment was made in accordance with relevant sections of the NSITF Act and the Employees Compensation Act, not the Public Service Rule as alleged by TAG.
Addressing specific allegations regarding issues of gratuity payment of N47 million to its MD, NSITF clarified that these issues had already been addressed by a committee set up by the former Minister of Labour and Employment, which found no wrongdoing on the part of the Managing Director.
Regarding the appointment of a consultant for forensic investigations, NSITF clarified that no payments had been made to the consultant, despite yielding results. The Fund emphersised that all procurement processes followed due diligence and were awaiting approval from the Ministerial Tenders Board.
NSITF also debunked claims of inflated contracts and asserted that no contracts had been awarded without proper scrutiny by the Parastatals Tenders Board, with all necessary approvals sought.
The Fund further claimed that all recruitments that were carrried out in the agency between 2022 and 2023 were done legitimately .
Highlighting its achievements, NSITF pointed out significant improvements in reaching injured workers with social security benefits, conducting Occupational Safety and Health exercises, and expanding its outreach to the informal sector.
“Besides, the so-called non-remittance of N2.1bn tax deductions is another hogwash, a lie told so many times which has failed before consistent knockings of available facts. The truth is that the figure N2.1Bn itself exists only in the sick but fertile province of mischief. Recall that at a conciliation meeting between the domestic Chapter of ASSBIFI and the Management of the Fund, summoned by the Permanent Secretary of the Ministry of Labour and Employment on 25th April 2024, the Executive Director of Finance, NSITF, Adegoke Adedeji provided evidence that the current management has not only been faithful in remitting tax deductions but also the National Housing Fund.
“Also, the money invested has nothing whatsoever to do with deducted taxes which anyway have been remitted to the appropriate tax body. It is rather funds from other sources that the management of the Fund wisely invested in line with section 31(b) of the ECA
“Similarly, though the appointment of a consultant to conduct forensic investigations was done by the previous Managing Director, the fact on the ground is that no dime has been paid to the consultant till today in that respect. This is notwithstanding that the effort of the consultant has produced results.
“Really, the NSITF has not awarded any contract for this and others as claimed by TAG. All that the Fund has done was to convene a Parastatals Tenders Board (PTB) in line with the requirements of the law and due process, securing all requirements, including the certificate of no objection from the BPP. The endorsement by the PTB has been sent to the Ministerial Tenders Board (MTB) at our parent Ministry of Labour and Employment for approval or rejection. No contract has been awarded.
“Furthermore, we wish to state more clearly that there is no existing contract awarded for internet connectivity or emails for the Fund.
“The bottom-line is that the allegations by TAG are a motely rehash of issues which we have been properly addressed before now and some of which have been undergoing investigations by the ICPC and EFCC and so far, no wrong doing established on the part of the Managing Director or members of her EXCO.
“It is pertinent to state once more as we done severally that staff recruitment in 2022 and 2023 followed due process and met all legal criteria and that anyone with contrary evidence should provide such.
“Where detractors have found nothing, they desperately search for a discordant dark wash to hang on the current management of the Fund, who are determined to move to the NSITF to a greater height .
“In view of the above therefore, we easily dismiss the allegations by the Transparency and Accountability Group as “ a tale told by an idiot, full of sound and fury , signifying nothing” as found in Macbeth by William Shakespeare,” it stated.
