Sacked NSITF management saved N2bn, left N30bn debt, says Ngige

2022-01-24
THE PUNCH Newspaper

The Minister of Labour and Employment, Chris Ngige, has given the management of the Nigeria Social Insurance Trust Fund January 31 deadline to re-adjust the staff salary structure.

The minister also berated the former management of the Fund for allegedly leaving N30bn debt.

The minister spoke at the closing of a two-day Management Performance Review in Abuja on Saturday.

Commending the NSITF’s new management for what he described as its new focus and work-friendly approach, Ngige said the new team has justified the decision of the President, Major General Muhammadu Buhari (retd.), to relieve the immediate past management team of their responsibilities.

This was contained in a statement on Sunday by the ministry’s spokesman, Charles Akpan, titled, ‘Ngige gives NSITF January 2022 deadline to re-adjust salary structure.’

The minister reportedly said, “When in July 2020, the President approved the suspension and later removal of the former management of the NSITF after over three years in office, the Fund’s savings was at a paltry N2bn.

“The acting management of Kelly Nwagha, who bridged the gap for less than a year, moved the savings to N8bn and in six months, the current management under Mike Akabogu has moved it to N17bn. The people they succeeded in office had only N2bn in the account but left a liability, debts of over N30bn. Is that good management?

“We discovered very sadly that the NSITF has not re-adjusted staff salary but it is not the fault of this management but of preceding ones who didn’t think about the lowly placed persons. We discovered it and have given them an ultimatum to do so by the end of January 2022.”

Ngige told the NSITF staff members that incentives would be tied to performance, adding, “If you improve your contributions before the end of March, all your allowances will be reviewed. So, all staff members must sit up. A new system is here to reward hard work. The era of clocking at 8.30am to sleep and clock out 4pm is over.”

 

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