N48 billion Mismanaged in NSITF, Presidency Alleges

Must Read

- Advertisement -

The presidency yesterday alleged that N48 billion of the N62 billion contributions to Nigeria Social Insurance Trust Fund (NSITF) was mismanaged by former members of the board between 2012 and 2015.

This is coming as President Muhammadu Buhari at the weekend appointed ex-labour leader, Chief Frank Kokori, as the Chairman of the board of Michael Imoudu National Institute for Labour Studies (MINILS) to end festering feud between the Nigeria Labour Congress (NLC) and the Minister of Labour and Employment, Dr Chris Ngige.

Buhari had initially appointed Kokori to chair the board of NSITF, but Ngige was not comfortable with Kokori’s appointment and consequently recommended Austin Enejamo-Isire to the president for approval to head the board.

Ngige said his decision to oppose Kokori’s appointment was in compliance with Section 4(a) of the NSITF Act, which he said prohibited the appointment of any person with interest in labour matters to chair the board.

- Advertisement -

A statement issued yesterday by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said Buhari appointed Kokori to head the board, acting on the recommendation of Ngige.

Adesina who said Buhari had tremendous respect for Kokori, a staunch ex-labour leader, said Ngige would swear in members of the Governing Board of NSITF today (Monday) at the Banquet Hall of the Presidential Villa.

Kokori and the NLC have been at loggerheads with Ngige in the past few months over the vehement refusal of the minister to swear in the former Chairman of National Union of Petroleum and Natural Gas (NUPENG) as the chairman of the board of NSITF.

The conflict climaxed last week when the NLC president, Ayuba Wabba, led protesters to picket the private residence of Ngige with two tankers deployed to block the entrance of his house.

- Advertisement -

However, Adesina who said the presidency condemned the action of the NLC, disclosed that efforts were currently being made to reconcile both the minister and the leaders of NLC, adding that prevalent corruption in NSITF from 2012 – 2015 led to the mismanagement of N48 billion out of the total N62 billion contributions during the period.

He said the face-off between NLC and Niggie over the appointment of the chairman of the board of NSITF necessitated explanations by the presidency.

“Following the disagreement between the Federal Ministry of Labour and Employment and the leadership of the Nigerian Labour Congress (NLC) over the appointment of the chairman of the board of the Nigeria Social Insurance Trust Fund (NSITF), the Presidency wishes to clarify as follows:

“That the NSITF is a hundred per cent, Federal Government of Nigeria owned insurance parastatal, under the supervision of the Federal Ministry of Labour and Employment, designed for the role of ensuring workers (employees) in the public and private sectors. The organization is empowered by law to implement the Employee Compensation Act (ECA) 2010 with a mandate to ensure workers and pay them compensation for accidents, deaths and injuries in the course of work.

- Advertisement -

“The NSITF was bedevilled and riddled with corruption between 2012 – 2015, which resulted in a colossal loss and mismanagement of about N48 billion out of the total N62 billion contributions during the said period. These were contributions by the Employers – viz government and the private sector for payment of compensation to workers and even to Employers for loss of man-hours by their workers. This fraud has been investigated by the Economic and Financial Crimes Commission (EFCC) and the last Chairman and some members of the former board and some officials of the NSITF are presently being prosecuted by the EFCC.

Read Also:  Are you ready for the biggest Film Academy in Nigeria?

“All actions taken by the Honourable Minister of Labour and Employment towards the resuscitation and repositioning of this ailing agency, including the Administrative Panel of Inquiry into the affairs of NSITF and the suspension of the inauguration of the board in 2018 were part of the special work plan approved for the Honourable Minister by Mr President.

“The appointment of the Chairman of this board, which is in consonance with Sec. 4(a) of the NSITF Act CAP N88 of 2004 was also approved by Mr President since 23rd July 2018 on the recommendation of the Hon. Minister.  Mr. Austin Enejamo-Isire, a Chartered Accountant, Fellow, Institute of Chartered Accountants of Nigeria (ICAN) and renowned Insurance expert, Senior Member, Chartered Institute of Insurance of Nigeria (CIIN), Chartered Institute of Bankers of Nigeria (CIBN) and Chartered Institute of Taxation of Nigeria (CITN) was approved by Mr. President for this position. Also approved by Mr President were the Managing Director and three Executive Directors who had assumed duties since 18 April 2017.

“Others also approved as Non-Executive Directors are two (2) members to represent the Nigerian Labour Congress (NLC), two members to represent the Nigerian Employers’ Consultative Association (NECA) and one (1) member each to represent the Central Bank of Nigeria and the Federal Ministry of Labour and Employment. Members of this board are to be formally inaugurated at 9 a.m. on Monday, May 13, 2019, by the Hon. Minister of Labour and Employment at the Banquet Hall of the Presidential Villa, Aso Rock, Abuja,” he said.

NLC Vows to Go Ahead with Demonstration against Ngige

The Nigeria Labour Congress (NLC) has said that it will go on with the planned protest in Abuja on Monday despite the explanation given by the Presidency on reasons for the delay in inaugurating the board of the Nigeria Social Insurance Trust Fund.

The President of the NLC, Ayuba Wabba who spoke in a telephone interview yesterday said Monday’s protest will be to show labour’s displeasure over the alleged abridgement of worker’s right to picketing by the Minister of Labour and Employment, Senator Chris Ngige.

“The protest for tomorrow is essentially about Ngige’s trying to bridge the rights of workers to protest and also sending thugs to attack workers,” he said.

Wabba said the statement by the presidency expressing support for the Minister’s delay to inaugurate the NSITF’s board was coming late.

“It is most unfortunate, we expected that this response should have come earlier than now. In fact, we would not have wasted our energy in the fighting.

“So clearly speaking this is our position and it is very late and why should only this labour market institution now be singled out and also received such a treatment that everyone in one country or the other knows such a thing is going on.

“The issue has dragged on for two and a half years. The response is certainly coming late. We ought to have known the position of the government.

“But you know after two and half years it is coming late because these are the issues we have written severally, we have campaigned severally about it and in all our meetings, including the delegates conference, we have talked about it,” he said.

Wabba also disagreed with federal government’s position that NSITF is essentially a government-own establishment, saying the reason labour has two statutory members and NECA has two representatives on its board is that it is a labour market institution.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure...

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

Read Also:  UNCTAD To Hold Landmark Conference On e-Commerce In Africa, For Africa

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

Mobile phone technicalities


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure against its competitors

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

Mobile phone technicalities


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


N48 billion Mismanaged in NSITF, Presidency Alleges - Brand Spur
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img