- The NSITF management had told the Senate Committee on Public Accounts that the documents needed to justify the spending of N17.158 billion had been beaten by rains and possibly being eaten up by termites.
- The current general manager of finance had alleged said to have seen the evidential documents locked up in an abandoned container within the premises of the agency in Abuja.
- Senator Mathew Urhoghide, the Chairman of the Committee, pained by the statements of the NSITF officials has ordered them to reappear before the committee with all the requested evidential documents unfailingly on Thursday, September 22, 2022.
The management of NSITF stated this last Friday while appearing before the Senate Committee inside the National Assembly conference hall.
The office of the Auditor-General of the Federation, in its 2018 audit report, said the N17.158 billion was the total amount transferred by NSITF from its Skye (now Polaris Bank) and First Bank accounts into various untraceable accounts belonging to individuals and companies from January to December 2013.
Speaking on the matter, Michael Akabogu, the managing director of NSITF, failed to justify the spending of the funds spent in 2013 with the required documents.
Speaking during the hearing Akabogu, said no documents of such were in their possession upon his assumption of office, adding that he was told by past management that the vouchers had been beaten by rain and possibly being eaten up by termites.
“The container they said documents were kept by past management has not only been beaten by rains over the years but even possibly being eaten up by termites.
“As directed by this committee, I told the past management officers about the need for them to help us out in answering this query with necessary documents which have not been made available for us.” He said
In his submission, the NSITF MD from 2010 to 2016, Umar Munir Abubakar, said that he was unaware of the query and had no explanations for it since the audit was not carried out during his tenure.
Adebayo Somefun, The head of the agency from May 2017 to July 2020, said that those in the account section should be able to trace the documents which the current general manager of finance alleged to have been locked up in an abandoned container within the premises of the agency in Abuja.
Senator Mathew Urhoghide, the Chairman of the Committee, displeased by the statements made by the past and present NSITF officials has ordered them to reappear before the committee with all the requested evidential documents unfailingly on Thursday, September 22, 2022.