Funds Embezzlement: NSITF Undergoes Major Reform, Redeploys Key Managers

Funds Embezzlement: NSITF Undergoes Major Reforms, Redeploys Key Managers

By Christiana Onuoha

The Nigeria Social Insurance Trust Fund (NSITF) has described as strategic reform, the recent enthronement of new management in the administration of the Fund by President Muhammandu Buhari, through the supervision of the Minister of Labour and Employment, Sen. Chris Ngige.

NSITF in a press statement signed by its General Manager/ Head Corporate Affairs, Ijeoma-Oji Okoronkwo, and made available to journalists in Abuja, stated that the reforms was instigated by allegations of misappropriation and embezzlement of funds levelled against the immediate past Management and necessitated their replacement.

The statement said; “In response to the allegations of misappropriation and embezzlement of funds levelled against the past Management of the Nigeria Social Insurance Trust Fund, His Excellency President Muhammadu Buhari, GCFR, constituted a Presidential Panel in July, 2020 with a Mandate to investigate all allegations and proffer recommendations for a holistic repositioning of the Fund.

“The Committee upon the completion of its assignment submitted its report to the President, and received Presidential approval for the immediate implementations of the recommendations.

“The first phase of the strategic reform was to reconstitute the Executive Management that saw Dr Michael Akabogu, Mrs Maureen Allagoa, Mrs Temitope Akinwale and Mr Modu Gana as members of the Executive Management serving as Managing Director/CE, Executive Director Administration, Executive Director Finance &Accounts, and Executive Director Operations respectively.

“The second phase of the strategic repositioning of the Fund as approved by the Presidential Report was to implement a strategic reform and change management plan that will see the Fund stabilized and secure the much needed public confidence. An essential part of the process of the implementation is the redistribution of staff to departments that match their qualifications, experiences and competencies.

“The exercise which had been duly communicated to staff saw the redistribution of 300 out of the over 5000 staff strength of the Fund. These staff were redeployed across various departments, Branches and Regions across the Federation after a careful consideration of their core competences, skills and qualifications.”

Furthermore, the stated declared: “Prominently, the following senior Management staff were strategically redeployed and posted to serve in the following department/Regions: 1. Mr Zwalda Ponkap, formerly General Manager Audit& Inspectorate was redeployed from Audit and Inspectorate Department to Finance department as General Manager/ Head of Finance
2. Mr Babatunde Adegoke, a Deputy General Manager and former acting Head of the Lagos Corporate Office redeployed to Head the Investment & Treasury Management.

“3. Mr Nasir Mohammed, an Assistant General Manager Kaduna Regional Office redeployed to ICT Head Office as the Head of Department. 4. Mr Lateef Musa, formerly General Manager Enforcement redeployed to Lagos Regional Office as the Regional Manager.

“5. Mr Geoffrey Otokito, formerly Deputy General Manager APRD redeployed to serve as Regional Manager Portharcourt Region. While Mrs Ijeoma Oji- Okoronkwo, formerly General Manager SERVICOM redeployed as General Manager and Head of Corporate Affairs.

“All officers affected are encouraged to make good use of the opportunity as the redeployments are targeted at improving productivity, retooling relearning, capacity building and ensuring that all hands are on deck towards achieving the Mandate of the Fund.

“However, Management has commenced the compilation and processing of relocation allowances for all redeployed staff to ensure a seamless relocation. Management hopes that all staff will bring to bare their wealth of experience and competencies in the realization of the strategic reform and change management of the Fund.”

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