Nigeria's House of Representatives has mandated its committee on labour, employment and productivity to conduct an investigation into the non-inauguration of the Nigeria Social Insurance Trust Fund, NSITF board and allegations of diversion of funds by its past board.
The House also wants the true financial position of the agency from 2011 to date.
The lawmakers argued that perpetuation of the alleged fraud and non-inauguration of the board has thrown the agency into a state of confusion and left it dead to its responsibilities.
In another development, the lawmakers moved to amend the allocation of revenue into the federation account and establish the excess revenue fund account to correct the irregularities in it.
The Excess Crude Account has been generally seen as illegal by the lawmakers, the proposed amendment therefore is to give legal backing to it; the house stressed that the legality of the excess crude cannot be guaranteed hence needs a legislative framework to control it.
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