Documents containing evidence of N17.158 billion expenditure of the Nigeria Social Insurance Trust Fund (NSITF) has reportedly been eaten by termites and destroyed by rain.
The Managing Director of the NSITF, Michael Akabogu, revealed this while addressing the untraceable Fund spent by the Trust Fund in 2013 during the tenure of Umar Abubakar, who served between 2010 to 2016.
Recall that the NSITF has been under probe after the Office of the Auditor General of the Federation (OAuGF) stated that the N17.15 billion was transferred to Skye Bank (now Polaris Bank) and First Bank accounts.
The transfers were made between January 7, 2013 and February 28, 2013, to persons and companies, however, documents detailing the purpose of the expenses were not submitted for audit.
Akabogu said the documents could have been eaten by termites, as rain had destroyed the containers that the said documents were kept in, The Nation reported on Monday.
“The container the said documents were kept by past management has not only been beaten by rains over the years but even possibly been eaten up by termites.
“As directed by this committee, I told the past management officers on the need for them to help us out in answering this query with necessary documents which have not been made available for us.” Akabogu said.
The Senate Public Accounts Committee (SPAC) has been probing the Trust Fund over the untraceable funds, and has demanded that the representatives of the NSITF to provide the documents on Thursday, September 22, 2022.