Sacked NSITF management left N30bn debt –Ngige

Labour Minister, Dr. Chris Ngige

The Minister of Labour and Employment, Senator 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 gave the agency three months to fully automate its operations.

He stated this at the closing ceremony of the two-day Management Performance Review held at the Nigeria Airforce  Centre, Abuja, on Saturday.

Commending the new management of the Fund 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 of Labour and Employment, 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 N2 billion.


“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 N2b 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 further told the NSITF staff 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 the staff must sit up. A new system is here to reward hard work. The era of clocking at 8:30 am  to sleep and clock out 4pm is over.”