The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Michael Akabogu, claims that termites have eaten up payment vouchers for N17.16 billion his organisation spent in 2023.
Akabogu stated this while reacting to queries by the Senate Committee on Public Accounts with regards to the transfer of funds from the NSITF account to different accounts owned by individuals and organisations.
“As directed by this committee, I told the past management officers about the need for them to help us out in answering this query with necessary documents which have not been made available to us,” he said.
“The container they said documents were kept by past management has not only been beaten by rains over the years but even possibly being eaten up by termites,” Akabogu announced.
His reaction led to some form of disquiet in the hall.
The Chairman of the Committee, Senator Matthew Urhoghide, who expressed displeasure over Akabogu’s response, then asked him and his team to present all the documents on September 22, 2022.
