President Bola Tinubu has taken decisive action by ordering the immediate suspension of all programs managed by the National Social Investment Programme Agency (NSIPA).
The decision was prompted by the recent uncovering of suspected embezzlement of N44.8 billion from the agency’s funds.
The suspension was officially announced on Friday through a statement by Segun Imohiosen, the Director of Information at the Secretary to the Government of the Federation.
He said the presidential decision was in view of the “ongoing investigation of alleged malfeasance in the management of the agency and its programmes.”
“All four (4) Programmes administered by NSIPA, viz; N- Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme and Home Grown School Feeding Programme (the “Programs”) have been suspended for a period of six weeks in the first instance,” the statement read.
“President Bola Ahmed Tinubu has also raised significant concerns regarding operational lapses and improprieties surrounding payments to the Programs’ beneficiaries.”
The president has reassured stakeholders and all Nigerians that his administration is dedicated to a quick and fair process to ensure that social intervention programs will function as intended, benefiting the most vulnerable Nigerians.
The ongoing investigation by the Economic and Financial Crimes Commission (EFCC) has reportedly recovered approximately N39.8 billion. The EFCC is also investigating the involvement of three major banks suspected of facilitating illegal transfers of funds meant for poverty alleviation and social intervention programs.
The scandal revolves around Halima Shehu, the former National Coordinator of NSIPA, who, along with a Director of Finance, is accused of embezzling N44 billion from government accounts in just five days between December 27th and 31st, 2023.
