President Muhammadu Buhari has approved the removal of the Managing Director/Chief Executive Officer of the Nigeria Social Insurance Trust Fund, Bayo Somefun, and nine other top management officials, including three executive directors.

The three executive directors were identified as Jasper Azuatalam, Tijani Sulaiman and Olukemi Nelson.

Bayo Somefun

Buhari, who reconstituted the board of the NSITF, approved the appointment of Michael Akabogu, General Manager, Risk Management Department of the NSITF, as the new Managing Director.

Those removed had been on suspension since July 1, 2020, following alleged infractions of the Public Procurement Act 2007 and some Financial Regulations in the NSITF.

Their removal also takes effect from the same July 1, 2020, following the final approval of the recommendations in the report of the Presidential Joint Board and Audit Investigation Panel set up by the president in July 2020 to investigate the alleged infractions of the Public Procurement Act, 2007, and the Financial Regulations in the NSITF.

The president had, at that time, set up the Presidential Joint Board and Audit Investigation Panel to investigate the alleged infractions.

A statement issued on Monday by the spokesman for the Ministry of Labour and Employment, Charles Akpan, said the MD and the three executive directors were to refund the NSITF treasury the total sum of N181, 056,000 “being illegal overpayments in salaries, allowances such as overseas travels, leave allowances for self and spouses in overseas, house allowance, DSTV and club registration and extraneous allowances not approved by the National Salaries, Incomes and Wages Commission”.

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