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EFCC To Invite Ex-nsitf Boss Over Alleged Billion-naira Fraud by yns4real: 7:51pm On Jul 24, 2016 |
http://aljazirahnews.com/index.php/2016/07/24/efcc-invite-ex-nsitf-boss-alleged-billion-naira-fraud/?utm_source=twitterfeed&utm_medium=facebook Tosin Omoniyi Indications are high that the Economic and Financial Crimes Commission, EFCC may soon invite the former board chairman of the Nigeria Social Insurance Trust Fund (NSITF) Ngozi Olejeme over allegations of fraud perpetrated under her watch. Aljazirahnews gathered from credible sources that the anti-graft agency is in possession of several petitions indicting Olejeme of massive diversion of public funds and mismanagement while at the helm of affairs at the fund. It was gathered that the agency will soon swing into action using a particular petition, a copy of which this medium obtained to initiate criminal proceedings against her. In the petition, Olejeme was particularly accused of using her position to fraudulently divert funds which were obtained as loans from the bank. It was alleged in the petition that in April, 2014 when the fund was on the verge of liquidation as a result of mismanagement, the NSITF, via a letter NSIF/RB/14/41/CON/TR dated 11th April, 2014 signed by the Managing Director/CE, Umar MunirAbubalar and then Deputy General Manager (Finance), Mr Henry and addressed to the Group Head, Public Sector North, First Bank Nigeria Plc., Main Branch Abuja, sought and obtained a loan facility for the sum of one billion Naira (1,000,000,000.00). It was further gathered that the loan was obtained for First Bank Account No. 2001676969. The purpose of the loan was to defray the certain official allowances that were then outstanding. These include the transfer allowance to staff since May, 2014; 2014 Education Allowance; 2014 Dressing Allowance; Housing Allowance; Furniture Allowance and Salary Arrears. It was discovered however that the allowances were not paid and the N1bn loan obtained from First Bank of Nigeria was then diverted to some ‘fictitious ICT Contracts by the Chairman, Dr. (Mrs.) Ngozi Olejeme, the Managing Director/CE, Umar Munir Abubakar and the General Manager, ICT, Mrs. Catharine Ugbe.’ Also, it was gathered that it was it was only in September, 2015, when President Muhammadu Buhari implemented the Treasury single account (TSA) that the allowances, except the furniture Allowance were paid. In the petition also, the NSITF reportedly in early 2015 sought and obtained another loan facility for the sum of N250, 000,000.00 (Two Hundred and Fifty Million Naira). The letter for the loan facility was reportedly signed by the MD. The purpose of the loan facility was a part-payment of a twin four storey building close to NSITF Headquarters occupied by the Abuja Environmental Sanitation board, which NSTF intended to purchase then. The property agent that reportedly handled the transaction was MOHAMMED &CO. The petitioner said till date, no part payment of any sum has been made on the property; neither has the property been purchased by NSITF. The funds were allegedly diverted by the duo. Responses from both could not be gotten as at press time. Aljazirahnews recalls that President Muhammadu Buhari sacked the Chief Executive Officers (CEOs) of 26 federal government’s parastatals, agencies and commissions in February this year including that of the NSITF. The Department of State Security Services (DSS), about a week later raided the Abuja home of the son of Olejeme though the reason for the action was undisclosed. Sources say the embattled ex NSITF boss has since fled the country to evade arrest. Sources said that the EFCC has begun to beam its searchlight on activities of most of the sacked chief executives. A source said that some of the heads of the agencies were sacked by the President for unprofessional conduct and misappropriation of funds while others were relieved of their appointment for involving in partisan politics, especially under the immediate past administration. The NSITF is one of the foremost social insurance organizations in Africa with a long history of service dating back to 1961. It started in 1961 as the National Provident Fund with the mandate to protect employees in the Nigerian private sector who were mostly in non-pensionable employment. Decree No 73 of 1993 gave birth to the Nigeria Social Insurance Trust Fund as replacement for the National Provident Fund. NSITF runs a Defined Benefit Scheme for the Organised Private Sector that covers contingencies of old age, invalidity, survivor and emigration (for contributing members relocating permanently outside Nigeria). Aljazirahnews recalls that the body transformed twice in July 1994 and in June 2004. Share This:
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