The Nigeria Social Insurance Trust Fund (NSITF) has said it is giving necessary assistance to the Senate to carry out its statutory oversight functions with regards to the N17.15 billion which was allegedly misappropriated from the Fund between 2012- 2015.

It explained that the misappropriated fund was from the between 2012- 2015, adding that it emanated from the 2018 Audit Report of the Office of the Auditor General of the Federation. In a statement issued by the NSITF management yesterday, it said when the Senate Committee initiated the current probe in 2021, the Fund had to set up an internal committee to retrieve from First Bank and Skye Bank, detailed transactions involving the NSITF under the period as requested by the Committee. It said relevant documents were subsequently submitted to the Senate Committee.

“And to further assist the Senate Committee in the performance of their function at their prompting, we equally invited the former Managing Directors Munir Abubakar (2010-2016) Ismail Agaka (2016-2017) and Bayo Somefun (2017-2020) under whose tenures these infractions as reported in the Auditor General’s Report took place, to respond to some of the questions raised in the reports of 2018 which the Senate is probing.