The Federal Government has today 13th May, 2019, inaugurated the Board of the Nigeria Social Insurance Trust Fund (NSITF).
The ceremony was performed by the Honourable Minister of Labour and Employment, Sen. (Dr.) Chris Nwabueze Ngige, at the Banquet Hall, Presidential Villa, State House. Abuja.
The Board made of twelve members is chaired by Prince Austin Enajemo-Isire, Chartered Accountant, Fellow ICAN, Senior Member CIIN, CIBN, CITN while Mrs. Ijeoma Oji Okoronkwo, Deputy General NSITF, serves as Board Secretary.
Other members include:
Dr. Mohammed, J. Yinusa, NECA member
Com. Waheed Adewale Adeyanju NLC member
Com. Ibrahim Khaleel
Dutse Umma Aminu
Tijani Suleiman Darazo
Titilola Olukemi Nelson NSITF
Adebayo k. Somefun
The Minister in his address stated that the “ The Nominal members of the Board shall hold office for a term of three (3) years while the Executive members shall hold office for four years in the first instance and shall be eligible for re-appointment for one further term of three (3) years and no more. All appointments are made at the pleasure of Mr. President and membership may cease by notice in writing given by a member under his hand which is addressed to the Minister of Labour and Employment”
He noted that the last Board and Management of NSITF left negative trails inimical to development and progress for both the human and infrastructural components of the Agency. The criminal investigations by the Economic and Financial Crime Commission (EFCC) and the subsequent Administration Panel of Enquiry investigations revealed financial atrocities that would go down the annals of history of the Agency.
“Some members of the previous Board in collusion with some top Management staff of the Agency aided and abetted the looting of government and private sector funds of about N48 Billion from the N62 Billion contributions between 2012 – 2015 of the NSITF”, he added.
The Minister charged the Board to be guided by Circulars issued by the Office of the Secretary to the Government of the Federation of 1999 and 2015 while the Managing Director and Executive Directors are to be guided by their letters of Appointment issued by the SGF as well as the Public Service Rules and Financial Regulations.
He enjoined the Board to ensure proper conduct of the affairs of the Agency to restore confidence of the Nigerian public in the administration of the fund for the execution of Employees’ Compensation Act, (ECA), 2010.
In a goodwill message, the House Committee Chairman on Labour and Employment, Hon. Onyewuchi Ezenwa congratulated the Minister for ensuring stability in NSITF and urged the new Board to be mindful of the past pitfalls of the Agency and assured the Board of the support of the National Assembly in carrying out the objectives of Agency.
In a response speech, the Chairman of the Board, Prince Austin Enajemo–Isire, on behalf of the newly inaugurated Board appreciated President Buhari for finding them worthy to be appointed to the Board. He equally thanked the Minister for recommending them to the President.
Isire pledged the resolve of the Board to change the narratives of the Agency to justify the confidence on the Board by Mr. President. He said the Board will embrace team spirit to produce uncommon achievements.