FG replaces Frank Kokori with insurer as NSITF chairman

 

The need to put a technocrat that fits the technical and strategic nature of the operation of the National Social Insurance Trust Fund (NSITF) informed the replacement of Frank Kokori with an insurance practitioner, Austin Enajemo-Isire as its new chairman, findings by InsideBusiness Online have shown.

The replacement which was announced early this month after three years of Kokori’s nomination by the federal government has sparked condemnation from the Nigeria Labour Congress (NLC) which insisted that the board of the NSITF be inaugurated under the chairmanship of Kokori before May 29 handover date.

The Fund in the recent past has allegedly had political appointees as its managers, the development which was said to have derailed it and turning it to a pool to fund political activities.

The NSITF currently known as the Employees Compensation Scheme (ECS) was set up in 1961. Known then as National Provident Fund (NPF) before it metamorphosed into NSITF via the 1993 amendment act is an social insurance scheme designed to provide compensation to employees who suffer from occupational accidents or diseases in the line of duty. The organisation that came into being by convention No 102 of the International Labour Organisation (ILO) is funded by one percent deduction from all government and private sector employees that enrolled in the scheme.

Prior to the choice of Enajemo-Isire, the federal government had nominated Kokori as the Fund’s chairman while other members of the board were pooled in line with the prescription of the NSITF act.

Section 4, Part One of the Fund’s enabling act prescribes the membership of the board to include a chairman who shall be appointed by the President, on the recommendation of the Minister for Labour; two representatives of the Nigerian Employees Consultative Association (NECA), the Nigeria Labour Congress (NLC), together with one representative of the Federal Ministry of Employment, Labour and Productivity; the Central Bank of Nigeria (CBN), three Executive Directors appointed pursuant to section 7 of this act and, the managing director.

Kokori, a trade unionist and champion of democracy, led the National Union of Petroleum and Natural Gas (NUPENG), alongside other Labour leaders to resist the dark era of Nigeria during the regime of the maximum military ruler, late General Sani Abacha. He was nominated by the Vice President Yemi Osinbajo when he was the Acting President.

The government however did not inaugurate the board citing non-completion of the investigation into the sleaze which rocked the Fund prior to the emergence of the administration of President Muhammadu Buhari.

Ever since the substitution of Kokori with an Insurance practitioner, whom the government feels has robust technical experience to lead the organisation which is in dire need of new direction, has the Nigerian Labour Congress (NLC) which Kokori enjoys its strong backing kicked, and allegedly preventing inauguration of the board.

Sources confided in InsideBusiness that the government report on the sleaze that rocked the Fund recomemnded that only professional with sound technical background be appointed as the chairman so as to help in rejuvenating the organisation and return it to path of responsibility and recovery.

The Fund had been rocked by a scandal allegedly up to the tune of N62 billion and the intervention of the EFCC which allegedly frozen 30 accounts traced to its former chairperson, Ngozi Olojeme, had also led to the arraignment of its former Managing Director, Umar Munir Abubakar and four others including the Deputy General Manager, Finance Henry Ekhasomi Sambo; General Manager, Legal Adebayo Adebowale Aderibigbe; Chief Richard U. Uche and Aderemi Adegboyega. They were alleged to have diverted N18billion out of the sum in question.

Ngozi Olejeme who chaired the Fund between 2009 and 2015, an entrepreneur is an active politician and a former gubernatorial aspirant for Delta state under the platform of the People’s Democratic Party (PDP) in the 2007 elections.

The investigative report which has now been released, according to sources, frowns at the appointment of a political appointee, a class which Kokori who is widely known as a champion of democracy belongs. The report supports the appointment of a technocrat, and vehemently against the return of political appointees so as to prevent the Fund from deviating from its course and slipping again into financial recklessness.

“Government report on the scandal at the NSITF said political appointees must not be made the chairman of the Fund because of its technical nature. Kokori is not a technical person” said a source who is familiar with the appointment.

The Labour minister Chris Ngige who met with Osinbajo to discuss the government report, and the board membership, convinced the Vice President on the need to implement the report. This, it was leant, paved the way for the substitution of Kokori and his replacement by Austin Enajemo-Isire, an insurance practitioner with years of robust experience.

Sources also noted that President Muhammadu Buhari also gave approval to Enajemo-Isire in line with the report that recommended that the technical nature of the NSITF be upheld in the appointment of its board members. He also approved the appointment of Kokori as the chairman of the board of Micheal Imoudu National Institute Of Labour Studies (MINLS), Ilorin.

“The approval of President Buhari was also secured for the appointment of Enajemo-Isire who is seen as a round peg that fits the Fund” stated the source.

The NLC would not believe this as its president Aliyu Wabba said the name of President Buhari is being used to cover up for the decision of the Labour ministry.

 “The law says even in some lesser appointments, NLC shall be consulted. We have waited patiently for three and half years” noted Wabba, the NLC boss.

Kokori who also felt to have been unjustly denied of the chairmanship position, accused the Labour Minister of oppressing him for his integrity and transparency.

“I feel Ngige is on his own. He is dragging the name of the president. Not the president I know”, he added.

 Enajemo-Isire, a chartered accountant, banker and insurer is expected to bring to the board, his wealth of experience in the Insurance industry as the entire financial services sector to the Fund that is currently in dire need of sound technical leadership.

Former managing director, Standard Alliance Life Insurance Company, Enajemo-Isire is well grounded in life assurance, the business of the NSITF having formerly been the Deputy General Manager, of Baico Insurance Plc (British America Insurance Company) and also an Assistant General Manager at Standard Trust Assurance LImited (STACO).

Other members of the board are Mrs Ijeoma Orji Okonkwo to serve as Secretary, Olawale Osuolale Timothy, Dr Mohammed Yinusa, Comrade Waheed Adewale Adeyanju,  Comrade Ibrahim Khaleel, Dr Ifeoma Anyanwutaku, Umma Aminu (Mrs), Jasper Azutalam,  Member/Executive Director, Finance, Tijani Suleiman Member/Executive Administration, Mrs Kemi Nelson Member/Executive Director, Operations, AdeBayo Somefun    Member/Managing Director & Chief Executive.