Banks, ex-CEOs indicted as N720b cash disappears

There is the N720 billion “invested” by the National Health Insurance Scheme (NHIS) in 12 years?

Nobody seems to have an answer. Not even NHIS boss Prof. Usman Yusuf.

He said the “investments” had no approvals of successive Ministers of Health, past boards of the NHIS and the Office of the Accountant-General of the Federation (OAGF).

He said billions were lost to diversion and under-payment of interest.

Banks, former Executive Secretaries, select management staff and interest groups were all neck-deep in the scandal, Yusuf alleged.

According to the NHIS Executive Secretary/Chief Executive Officer, there is no trace yet of the N720billion.

Yusuf opened the lid on the corrupt practices in NHIS in a power-point presentation to the agency’s Governing Council in response to a query by the board.

He said when he discovered the scandal, he engaged forensic accountants to get to the root of the matter.

The Governing Council of NHIS was yet to take action on the submissions of the Executive Secretary and response to its query as at the time of filing this report.