PRESIDENT Mohammed Buhari has fired Michael Akabogu, the Managing Director/Chief Executive of the Nigeria Social Insurance Trust Fund (NSITF). 

Akabogu was dismissed on February 3, according to an internal memo signed by the Executive Director of Operations of the NSITF, Gabriel Iwelunmor. 

READ ALSO:

EFCC arraigns former NSITF GM over N60m fraud

Ngige, NSITF management accused of multibillion naira deductions from staff salaries 

Suspended NSITF management staff stole N3.4b says Ngige

EFCC traces 38 houses to Ngozi Olojeme, ex-NSITF chairman

“I am directed to inform you that Mr President Muhammadu Buhari, in the exercise of his powers under Section 8 of the NSITF Act, has required the removal from office of Dr Michael Akabogu as the Managing Director/CE of the Nigeria Social Insurance Trust Fund (NSITF) with effect from Friday, February 3 2023.

“Subsequently, the Executive Director Administration of the Fund – Barr. (Mrs.) Maureen Allagoa has been directed to take charge of the affairs of the Fund.

“Furthermore, this information should be communicated to the staff of your various Departments/Units, Regions and Branches,” the memo read.

The ICIR has learnt that Akabogu’s dismissal is connected to the alleged forgery of the National Youths Service Corps (NYSC) Discharge Certificate. 

A whistleblower had, in 2022, petitioned the Nigeria Police Force (NPF), accusing the NSTIF boss of forging the National Youths Service Corps (NYSC) Discharge Certificate, which is attached to his Curriculum Vitae.

Following the petition, the Police summoned Akabogu for questioning, but the then NSITF boss said he was mobilised for the compulsory one-year youth service. 

He claimed he was deployed with the first batch, his service year spanning between October 4 1991, to October 3 1992. He gave his mobilisation number as OG/ FUTO/ 91/23402. 

The NSTIF has a long history of financial mismanagement and corruption scandals.

It would be recalled that the NSITF was accused of illegal tax deductions from workers’ salaries in 2022.

An investigation by The ICIR revealed that taxes running into billions were deducted from the salaries of over 5,000 workers. 

The agency made headlines in August 2022 after claiming termites had eaten up documents containing expenditures of its 2013 spending worth N17.1 billion, following a probe launched by the Senate.

In 2021, the NSTIF management was enmeshed in an N62 billion fraud scandal.

Similarly, in July 2020, top officials of the NSITF, including the managing director, Bayo Somefun, were suspended over allegations of corruption, including the squandering of N3.4 billion on non-existent staff training.

The NSITF was also probed for an alleged N2.3 billion fraud in 2019.

In 2018, the Federal Government said it uncovered N62.555 billion unaccounted funds in the NSITF.

In November 2017, EFCC arraigned an ex-NSITF boss, Umar Muni and four other officials for over an N18 billion fraud.

Also, in 2016, the management of the agency was accused of favouritism in promotions by a section of workers which reportedly generated enmity between the old and new staff.