A startling report has emerged that staff of the Nigeria Social Insurance Trust Fund (NSITF) spent N5.7 billion on pay TV subscription and fuel allowance.
The Cable quoted the administrative panel of enquiry set up by the Minister of Labour and Employment Chris Ngige, as making the discovery after the minister received the report on Wednesday.
The chairman of the panel, Ishaya Awotu, said that there were irregular allowances totalling N5.7 billion paid to staff and management.
His words: “These allowances were paid without the approval of the National Salary, Incomes and Wages Commission.”
“Some of the allowances were management staff allowance, staff education allowance, DSTV subscription allowance, and dressing allowance.”
“The others were generator and motor vehicle fuelling allowance which were not provided for in the Condition of Service of the fund.”
The chairman of the panel further revealed that the internal audit department of the fund did not audit the accounts between 2013 and 2017, which violates section 1701 of the financial regulations.
He continued: “There were several transfers of funds in bank accounts without authorisation and approvals. The sum of N15, 737,757,697.91. was transferred from one account to another.”
“Evidence to show the approvals and payment vouchers authorising the transfers were not presented to the panel.
“The panel observed that N2.9 billion was expended on computerisation and other related lCT equipment.
“Despite this expenditure, not much was achieved on computerisation of the Fund”