The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has released former Minister of Labour in Nigeria, Dr. Chris Ngige, after a prolonged period of questioning.
He was accused of misappropriating N48 billion and was grilled by ICPC officials.
The NSITF scandal, which broke in 2020, involved the misappropriation of funds totaling N62 billion meant for social security and insurance programs.
Several high-profile officials, including Dr. Ngozi Olejeme, the former chairman of the NSITF board, were implicated in the scandal.
According to sources, Ngige’s release does not necessarily mean that he is clear of charges.
The ICPC may still file charges against him or call him in for further questioning.
The investigation into the NSITF scandal is ongoing, with the ICPC working to unravel the complex web of corruption that led to the misappropriation of funds.
The government has taken steps to address the issue, including the suspension of the NSITF management board and the implementation of stricter controls and oversight mechanisms.
What is NSITF?
The Nigeria Social Insurance Trust Fund (NSITF) is a government agency responsible for providing social security and insurance benefits to Nigerian citizens.
The fund was established in 1993 to provide financial assistance to workers in the event of accidents, injuries, or death.
The NSITF is funded through contributions from employers and employees, and it provides various benefits, including:
1. Accidental injury benefits
2. Death benefits
3. Disability benefits
4. Retirement benefits
5. Maternity benefits
The fund is managed by a board of trustees, which includes representatives from the government, employers, and employees.
However, the NSITF has been plagued by corruption and mismanagement, leading to the embezzlement of billions of naira meant for social security and insurance programs.
The NSITF scandal, which broke in 2020, revealed widespread corruption and misappropriation of funds, leading to the suspension of the management board and ongoing investigations by anti-corruption agencies.