The Minister of Labour and Employment, Sen. Chris Ngige, on Tuesday, alleged that the suspended management of the Nigeria Social Insurance Trust Fund (NSITF), misappropriated N48 billion.
Ngige made the allegation at an investigative hearing at the House of Representatives on the alleged illegal suspension of the management of the agency.
The minister claimed that the management withdrew the amount through fake contracts, proceeds of which were recycled into private pockets.
According to him, there were also irregular payments of salaries and allowances of N10 million not in line with the condition of service of the organisation or any reference to the Office of the Minister.
Source: Nigerian Tribune