Termites have allegedly eaten up some documents of the Nigeria Social Insurance Trust Fund (NSITF) containing expenditures worth N17.1 billion, officials of the agency have told the Senate.
These documents are said to contain details of spendings by the agency in 2013.
The NSITF management stated this when it appeared before the Senate Public Accounts Committee (SPAC) on Friday.
Details of this expenditure and more are contained in the 2018 audit report of the Office of the Auditor General of the Federation (OAuGF).
In the report, which is now being considered by the SPAC, the OAuGF queried the agency for spending billions without appropriate supporting documents.
The management could not, however, justify the spending of the money when it was confronted by the panel.
The query
The OAuGF said the N17.158 billion represented the total amount, transferred by the NSITF from its Skye Bank and First Bank accounts, into various untraceable accounts between January and December…
