Nigerian Gov’t Official Blames Termites For Missing Evidence Of Untraceable N17.15 billion

The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Michael Akabogu, has claimed that documents conveying evidence of N17.158 billion spent in 2013 could have been eaten by termites.

Akabogu made the statement amid investigation into the finances of NSITF by the Senate Public Accounts Committee (SPAC). The N17.15 billion was said to have been disbursed without trace.

The Senate’s probe is based on the findings of the Office of the Auditor General of the Federation (OAuGF), in its 2018 audit report, which disclosed there are no documents supporting the expenditure.

OAuGF had queried the NSITF in its report, with claims that between January and December 2013, the money was sent to individual and company accounts domiciled in Skye Bank (now Polaris Bank) and First Bank.

Speaking on reports that the documents are locked away somewhere in the company, Akabogu said the container where the documents of evidence are have been beaten by rain, and possibly eaten by termites, according to The Nation.

“The container the said documents were kept by past management has not only been beaten by rains over the years but even possibly been eaten up by termites.

“As directed by this committee, I told the past management officers on the need for them to help us out in answering this query with necessary documents which have not been made available for us.” Akabogu allegedly said.

Fakoyejo Olalekan

+ posts

• Over N535.37bn Gained By Shareholders In Dangote Sugar, Tantalizer, Others
• Negative Signal: Board Director, Sola David-Borha, Sells Off All Shares In Stanbic IBTC
• NLC To Embark On Warning Strike On Tuesday
• CBN-backed Official Window Record Increase In Dollar Rate, USD Falls In Black Market