ALLAFRICA

The board of directors of the Nigeria Social Insurance Trust Fund (NSITF) has called for the removal from office and prosecution of suspended Managing Director and Chief Executive Officer of the fund for alleged diversion of funds running into billons of Naira.

A resolution of the board's emergency meeting number 39 obtained by Daily Trust said Chief Enukora Joe Okoli who was suspended last year following a petition alleging he illegally deducted N380 million from the proceeds of sale of pension assets (real estate's) transferable to Trustfund Pensions PLC.

He was also said to have opened bank accounts without the requisite Board resolution and approval, total disregard for regulatory authorities, i.e. non compliance with the directives of the National Pension Commission (PenCom)".

Spokesman for the NSITF Mr Edward Bayo said he had not seen the document and told our reporter that such resolutions were usually sent to the government. Meanwhile, Acting President Goodluck Jonathan has approved the appointment of Alhaji Umar Munir Abubakar as Acting Managing Director and Chief Executive of NSITF.