termites ate up vouchers


The Nigeria Social Insurance Trust Fund (NSITF) failed to provide the necessary documentation to justify its N17.16 billion expenditure in 2013.

On Friday, the agency’s management testified before the Senate Committee on Public Accounts, claiming that termites had eaten some of the payment vouchers.

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The N17.158 billion, as stated in the 2018 audit report of the office of the auditor-general of the federation, was the total amount transferred by NSITF from its Skye (now Polaris Bank) and First Bank accounts into various untraceable accounts belonging to individuals and companies from January to December 2013.

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“As shown in statements of Account No. 1750011691 with Skye Bank Plc for the period January 2013 to December 20, 2013, and Statements of Account No. 2001754610 with First Bank Plc for the period January 7, 2013 to February 28, 2013, the management of the NSITF transferred amounts totalling N 17,158,883,034.69 billion to some persons and companies from these accounts,” the query states.

Termites ate Up Vouchers

“However, payment vouchers for the transfers, as well as supporting documentation, were not provided for audit.” As a result, the purpose(s) of the transfers could not be verified.

“These are in contravention of financial rule 601, which states, ‘All payment entries in the cashbook/accounts shall be vouched for on one of the prescribed treasury forms.’ Vouchers must be made out in the name of the person or persons to whom the money is owed.

“Under no circumstances shall a cheque or cash be issued for services for which no voucher has been issued.”

However, neither the current nor previous NSITF management could provide satisfactory explanations for the undocumented multiple transfers.

In 2013, the officers in charge of the agency told the committee that they had left documents such as vouchers behind.


The NSITF’s managing director, Michael Akabogu, stated that no such documents were in their possession.

“The container in which the said documents were kept by previous management has not only been beaten by rains over the years, but it is also possible that termites have eaten it up,” Akabogu said.


“As directed by this committee, I informed the past management officers of the need for them to assist us in answering this query by providing us with necessary documents that had not been made available to us.”

In 2018, Philomina Chieshe, a Joint Admission and Matriculation Board (JAMB) official, claimed that a mysterious snake swallowed N36 million from the board.

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Chieshe later admitted that the money was collected by her coordinator, Samuel Sale Umoru.

A finance officer at the Kano Zoological Gardens accused a gorilla of stealing N6.8 million in 2019.

Umar Munir Abubakar, the managing director of NSITF from 2010 to 2016, stated in his submissions that he was unaware of the query and had no explanations for it because the audit was not conducted during his tenure.

Adebayo Somefun, who led the agency from May 2017 to July 2020, stated that those in the account section should be able to trace the documents that the current general manager of finance claimed were locked up in an abandoned container on the agency’s Abuja premises.

termites ate up vouchers NSITF

NSITF  Termites  Vouchers logo for illustration 

Irked by the submissions of past and present NSITF officials, Mathew Urhoghide, chairman of the committee, ordered them to reappear before the committee on Thursday, September 22, 2022, with all requested evidential documents.

Thanks for reading Termites Ate Up  Vouchers , NSITF insists


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