NSITF owes FG N3.8 billion

The Chairman, House of Representatives Ad-hoc Committee on Unclaimed Funds in commercial banks and the infractions by the Central Bank of Nigeria (CBN), Hon Unyime Idem on Tuesday, disclosed that the Nigerian Social Insurance Trust Fund (NSITF) owes the Federal Government N3.8bn.

He disclosed this at the continuation of the investigative hearing of the ad-hoc committee.

He explained that the amount represented the figure, which was not remitted to the government by the agency from 2016 to 2018.

Idem noted that the agency submitted audited financial statements for only this period and the debt figure was arrived at by the committee from the documents it received.

“These figures are extracted from documents that they submitted before us. I wonder what would happen by the time they fully submit all the documents required by this committee,” he said.

According to him, the National Business and Technical Examinations Board (NABTEB) was yet to remit N268 million to the Federal Government, which covered the period from 2015 to 2020. (New Telegraph)