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Tag: NSITF

  • Court orders seizure of 46 houses, land linked with ex-NSITF boss Olejeme

    Court orders seizure of 46 houses, land linked with ex-NSITF boss Olejeme

    A Federal High Court in Abuja has granted an order of interim forfeiture in relation to 46 property including houses and parcels of land suspected to be owned by former Chairperson of the Board of the Nigeria Social Insurance Trust Fund (NSITF), Mrs. Ngozi Juliet Olejeme.

    Justice Taiwo granted the order in a ruling on a motion ex-parte, marked: FHC/ABJ/CS/538/2020, argued on Tuesday by Ekele Iheanacho, a lawyer with the Economic and Financial Crimes Commission (EFCC).

    Justice Taiwo ordered the EFCC to publish the order in a national daily to enable anyone who is interested in the affected property to show cause within 14 days why the assets should not be permanently forfeited to the Federal Government.
    The judge fixed July 27 this ‎year as the return date.

    The 46 property, listed in documents filed in court, are said to be located in Abuja, Bayelsa and Delta states.
    The EFCC claimed, in a supporting affidavit, that Olejeme acquired the said property with public funds she allegedly diverted while serving in the NSITF between 2009and 2015.

    One of the property is identified as N0: 2 Kainji Crescent, off Lake Chad Crescent, Maitama, Abuja (also known as Plot 738 Cadatral Zone AO5, Maitama, Abuja, the which the EFCC claimed she acquired in 2012 at N1.3billion.

    The EFCC alleged that Olejeme acquired the property using funds received as kickbacks from contractors, through third parties.

    It stated that “During Mrs. Olejeme’s tenure as aforestated, she collected a cumulative sum of USD $48, 485,127.00 from Chuka Eze (her Account Officer in First Bank Plc), Henry Sambo Ekhasomi (the Director of Finance of NSITF), Aliyu Zubairu (Director of Corporate Affairs -NSITF), Adebayo Aderibigbe and Abubakar Umar.

    “The said sum of USD $48, 485,127.00 represents the dollar equivalent of kickbacks paid to BDC (bureau de change) by contractors/consultants of NSITF on Mrs. Olejeme’s instructions as well as payments to the BDC operators directly from NSITF account.

    “The personal account of Mrs. Olejeme in First Bank Plc also received a total in-flow of N22, 200,000.00 from Hybrid Investment Advisors Ltd, a contractor to NSITF.

    “Excellent Solicitors & Consultants is one of the firms engaged by the NSITF as consultant.

    “In the course of time, the firm received over N1,000, 000, 000.00 from the NSITF under the guise of rendering consultancy services, its proprietor Max Ozoaka withdrew the monies and either gave same in cash to Mrs. Olejeme or did transfer to her proxies under her instructions.

    “Within the same period, the sum of N5, 984,059,110 was paid by NSITF under the guise of consultancy services to Fountain Legal Services and Fountain Media Consults being the firms owned by Adebayo Adebowale Aderibigbe (a staff of NSITF).
    “As the said payments were made by the NSITF to his firms’ accounts, Mr. Adebayo Adebowale Aderibigbe gave Mrs. Olejeme a total cash sum of N505,000,000.00 and US$11,488,550.00 in dollars.

    “Mrs. Olejeme procured the services of bureau de change operators through Mr. Chuka, who provided the bank accounts of the BDC operators to her.

    “Several consultants/contractors to NSITF transferred money to the bank accounts of these BDC operators in naira for Mrs. Olejeme while the dollar equivalent of each naira lodgment would be collected by Mr. Chuka and handed over to Mrs. Olejeme in her house or through bank transfers.

    “Mr; Chuka was interviewed on various dates including 23rd August, 2016, 19th December, 2016, 4th April, 2017, 2nd May, 2017, 17th July, 2017 19th December, 2017, 27th December, 2017 and 17th May, 2018 and he consistently narrated the details of the numerous United States dollars he couriered to Mrs. Olejeme as well as other financial dealings he carried out for her.

    “The BDC Operators which provided the currency exchange services for Mrs. Olejeme through Mr. Chuka include Majia BDC, Alim BDC and Ashanbrak .BDC.

    “In addition to giving the currencies to Mr. Chuka for Mrs. Olejeme, there were occasions where the BDC Operators transferred some of the funds directly to Mrs. Olejeme’s controlled bank accounts.

    “For instance Mrs. Olejeme received the sum of N350,000,000.00 from the BDCs into her private company Able Jes Nigeria Ltd’s account in GTBank Plc in two days i.e (29th and 30th April, 2013).

    “In fact on 29th April, 2013, only Adamu Musa of Majia BDC made cash deposits into the same account totalling N236,350, 000.00. She (Mrs. Olejeme) is the sole signatory to the said account.

    “Mrs. Olejeme used the huge funds referred to in the foregoing paragraphs, which funds did not form part of her lawful income, to acquire property referred to.

    “She used third parties in making payments for all the property so as to conceal and or avoid the properties/funds from being easily traced directly to her.

    “Mrs. Olejeme hired the services of one Mr. Ifeanyi Njokanma, who is a property manager to purchase and acquire, on her behalf, most of the property,” the EFCC said.

  • Pension fund crisis: We’ll remit last 2 tranches before end of 2019 – NSITF

    …says issues of NHS passbooks are being treated

    By Emman Ovuakporie

    The Nigeria Social Insurance Trust Fund, NSITF has promised its pensioners that the last two tranches of pension funds would be paid before the end of 2019.

    The agency also promised to urgently look into the issue of National Housing Scheme, NHS passbooks to those involved.

    Recall that TNG had published two separate stories last week based on a petition sent to the House of Representatives by the National Union of Pensioners, NUP, NSITF branch and on the issue of NHS passbooks.

    The pensioners had asked the House to intervene in the following areas:

    “That the House should ask NSITF to compute and remit all outstanding contributory pension contributions and accrued penalties to entitled pensioners accounts without delay.

    “To update and release NHF passbooks of concerned pensioners to enable them to access NHF contributions.

    Also read:(Investigation) NSITF: Govt employee trust fund where pensioner earns N7k, MD gets N3.3m monthly

    The pensioners asked the speaker to as a matter of urgency direct NSITF to reactivate the NSITF Staff Pension Fund Board of Trustees as a standing liason between NSITF and its pensioners.

    It was further explained in the petition that” the enactment of the Pension Reform Act(PRA) No 2,2004 which made provision for the uniform contributory Pension Scheme for Public and Private sector-Senator in Nigeria.

    “Our former employer made contributory deductions from our salaries, with effect from July 2004 upto the time of retirement or disengagement of each of us without remitting the combined contributions to the employees’ pension fund.

    A source close to the Government Body told TNG that there’s no cause for alarm as the matter of remittance would be a thing of the past as the agency would pay the last two tranches before the end of 2019.

    The source explained that”we have been remitting all the remittances and management has assured that the last two tranches will be remitted before the end of the year.

    ” On the issue of NHS passbooks, the agency is on top of it and very soon it would be resolved once and for all.

    “All the outstanding matters bordering on our Pensioners are in the front burner and we shall adequately treat them one after the other,” the source added.

  • (Investigation) NSITF : Govt employee trust fund where pensioner earns N7k, MD gets N3.3m monthly [UPDATED]

    …union demands immediate upward review of pension
    …demand release of members NHS passbooks

    By Emman Ovuakporie

    If truly the rewards of teachers are situated in heaven, for pensioners at the Nigeria Social Insurance Trust Fund (NSITF), their reward seems to be in hell as a pensioner is only entitled to N7,000.00 monthly while the serving Managing Director, Adebayo Somefun of the insurance scheme reportedly goes home with a whooping N3.3million monthly.

    A simple calculation of the pensioner’s N7,000.00 monthly salary multiplied by 12 shows that a pensioner only earns N84,000.00 annually.

    See starred portions of salary structures below:

    A probe into this matter by TNG has revealed that for the past six years, the National Union of Pensioners, NUP, NSITF has written several letters to its management demanding for an upward review of their pension dues and release of their NHS passbooks.

    Some of the letters made available to TNG reveal that the union had written letters begging for an upward review of their salaries and unremitted contributory pension contributions.

    In one of such letters signed by Ahaam Mbazigwe, Chairman and Ayo Olutekunbi and sent earlier in the year response to NSITF letter, NUP said:
    “For purpose of clarity and sincerity, we hereby respond to the various issues raised or reacted to or avoided by NSITF as ambiguously stated hereunder items 1 and 2 in our letter under reference which were lumped together by NSITF to make them ambiguous shall be treated separately for clarity and avoidance of imprecision.

    See attached letter below:

    A source privy to this development told TNG that despite the several letters sent to NSITF management nothing has been done by the government body to alleviate their problems.

    He said’” we’ve written to the management several letters begging for attention to carry out an upward review of our hard-earned pension dues but no meaningful attention has been given to us.

    “We are old men and women, some of us are still training our children in secondary schools and universities.

    “Can you imagine that some of us still earn as little as N7k monthly while the serving MD goes home with over N3m monthly.

    “It’s mind-boggling and as it’s we don’t even have our National Housing Scheme, NHS contribution passbooks kept by management so we can’t even access it.

    “We have written several petitions, the last one was sent to the House of Representatives to help us fight this massive salary I’m balance and gross neglect by NSITF,” he added.

    Meanwhile, reacting to the issues raised by the pensioners, the Nigeria Social Insurance Trust Fund, NSITF in a mial sent directly to TNG promised its pensioners that the last two tranches of pension funds would be paid before the end of 2019.

    The agency also promised to urgently look into the issue of National Housing Scheme, NHS passbooks to those involved [READ NSITF’s reaction in full]

  • JUST IN: NSITF inauguration postponed indefinitely

    JUST IN: NSITF inauguration postponed indefinitely

    The planned inauguration of the Board of the Nigeria Social Insurance Trust Fund (NSITF) was aborted on Thursday as the Minister of Labour, Senator Chris Ngige, refused to inaugurate the former General Secretary of NUPENG as Chairman of the Board.

    The event scheduled for 10.30am at the Minister’s conference room did not take place as the minister disappeared without giving reasons for the failed inauguration or why Frank Kokori could not be chairman of the Board any longer.

    At about 11:40 a.m, when guests were seated, the Director of Human Resources in the ministry, Ajibola Ibrahim, came in to announce that the inauguration has been postponed indefinitely.

    “The minister has sent me to inform you that the inauguration has been postponed indefinitely. He asked me to apologise for any inconvenience this may have caused.

    “As soon as a new date is fixed, it will be communicated,” he said.

    It was gathered that the Minister has announced another person as Board chairman, claiming to have a presidential directive to do so.

    But Organised Labour vowed to resist any board not chaired by Kokori.

    Although the inauguration was said to have been moved to another venue, according to reports.

  • How a federal agency, NSITF, misappropriated N6.2bn – Report

    How a federal agency, NSITF, misappropriated N6.2bn – Report

    The Administrative Panel of Enquiry, which probed the N6.2 billion scam at the Nigeria Social Insurance Trust Fund (NSITF) on Wednesday submitted its report to the Minister of Labour and Employment, Chris Ngige.

    Ishaya Awotu, the chairman of the panel, said that there were irregular allowances totaling N5.7 billion paid to staff and management.

    “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.

    He said the panel observed that between 2013 and 2017, the internal audit department of the NSITF did not audit the cash books of the various bank accounts at the headquarters.

    The chairman also explained that the lack of effective auditing of the fund’s accounts and records violates section 1701 of the Financial Regulations.

    “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.

    “Evidences 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, defeating the purpose of the expenditure,” he said.

    He, however, added that the sum of N2,650,731,225.93 was deducted from various payments.

    He noted that this was in respect of Withholding Tax, Pay-As-You-Earn (PAVE), Value Added Tax, Pension and National Housing Fund , which were not remitted to the relevant authorities.

    Mr Ngige said another committee would be set up to implement the report of the committee.

    According to him, anyone indicted will be prosecuted.

    “This is not my report, but a report of the Federal Government of Nigeria. Those findings, especially about overseas trips which were unauthorised will be dealt with.

    “Because they are actions that breached public service rules. It is not true that parastatals are exempted from public service rules.

    “This report will be fully implemented and areas of lapses corrected. Many government organisations have gone under because of situations like this,” he said.

    The minister inaugurated the panel on February 15, to probe the affairs of NSITF.

  • My issues with EFCC not about Jonathan’s campaign funds – Ex- NSITF chief, Olojeme

    The former chairman of Nigeria Security Insurance Trust Fund ( NSITF ), Dr. Ngozi Olejeme on Tuesday said her arrest by the Economic and Financial Crimes Commission (EFCC) was stricitly about her tenure as part time chairman of the NSITF and not about former President Goodluck Jonathan’s campaign fund as widely circulated.

    Olojeme explained that she has nothing to do with the finance committee of ex- President Goodluck Jonathan’s campaign organization.

    In a statement issued by her media aide, Stanley Imoko, the ex-NSITF said contrary to reports that she was arrested by the Economic and Financial Crimes Commission (EFCC) over alleged N69billion fraud, she submitted herself before the Commission to clear the wrong allegations against her.

    Olejeme said the allegations that led to her arrest was purely about where she worked as part time chairman of NSTIF and has nothing to do with Jonathan’s campaign organisation as alleged.

    The statement reads: “Our attention has been drawn to erroneous media reports about the circumstance surrounding the issues Dr. Ngozi Olejeme is currently having with the Economic and Financial Crimes Commission (EFCC).

    “While we recognise the constitutional right of the media to inform the public, we are inclined to set the records straight by stating what has transpired so far between Dr. Ngozi Olejeme and the EFCC.

    “Dr. Olejeme who was declared wanted three months ago by EFCC for alleged diversion of several billions of Naira in NSITF where she was a part time chairman during the last administration turned herself in voluntarily to EFCC on Monday, the 18th of December, 2017 in order to clear her name which the alleged story of diversion tried to smear.

    ” Dr. Olejeme was appointed a part time chairman of the agency when the agency was moribund and comatose having been divested of its core responsibility of managing pension funds of Nigerian workers by the New Reform Pension Act of 2004 .

    “Dr. Olejeme’s dexterity saw the enactment of a new law by the National Assembly that gave some responsibilities (like social scheme compensation for employees who suffer injury or death in the course of their duties) to the agency and which resurrected the agency back to life.

    “The agency that had only two functional offices when she was appointed witnessed a tremendous growth both in offices across the length and breadth of Nigeria and personnel from 80 employees to about 7,000 by the time she exited from the board.”