A massive financial earthquake is shaking the Nigeria Social Insurance Trust Fund (NSITF) this evening as a fresh investigation reveals a staggering ₦297 Billion scandal involving its current leadership.
Documents obtained exclusively reveal that the CEO of the NSITF has allegedly granted themselves "No Approval Limit" on the fund's massive accounts. In a shocking breach of the Treasury Single Account (TSA) policy, investigators have discovered over 100 secret bank accounts all linked to a single Bank Verification Number (BVN).
The "Approval Without Limit" Plot
While the law requires federal agencies to seek board or ministerial approval for large transactions, this new "Internal Memo" shows that billions were moved without a single signature from the board. The money, meant for the insurance and welfare of Nigerian workers, was reportedly being channeled through these secret accounts into private investments.
The Whistleblower Leak
The scandal came to light after an internal audit was allegedly "suppressed," leading frustrated workers to leak the BVN data. The investigation shows that while the agency claims it has no money to pay certain claims to injured workers, these secret accounts have been "bubbling" with multi-billion naira transactions since January 2026.
Why This Matters to You
If you are a Nigerian worker paying into the NSITF, your "safety net" is currently being drained by a ₦297 Billion leak.
Is this the biggest corruption case of 2026 so far? How can one person operate 100 accounts in a TSA system? Drop your thoughts below!
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