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Advertisement The NSITF has been in the news after Bayo Somefun, its former managing director, and some board members were accused of corrupt practices and misappropriation of funds. This followed a probe by the senate, which revealed that the management had allegedly misappropriated N84 billion in four years. President Muhammadu Buhari had subsequently ordered the sack of the management and constituted a new board. Advertisement Speaking at a media briefing in Abuja on Thursday, Akabogu, while noting that a lot of negative issues have been associated with the NSITF since 2012, said the new executives will put certain strategies to reposition the organisation. ....
Punch Newspapers Sections Published 16 June 2021 THE appointment of a new managing director and the reconstitution of a management board for the Nigeria Social Insurance Trust Fund by the President, Major General Muhammadu Buhari (retd.), might not rescue the outfit from its quagmire. Apart from the new appointments, the President also directed that “the former Managing Director of the Fund, Bayo Somefun, and three other former Executive Directors with the NSITF, are to refund to the treasury of the Fund a total of N181 million being alleged illegal overpayments in salaries and allowances.” The Senate is investigating N61.1 billion allegedly diverted by the NSITF in 2018. ....
Buhari Fires NSITF Boss, 12 Other Top Officials thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.