National Social Security and Insurance Trust (NASSIT) was set up by the people’s moneys, and same exists to provide better life during retirement, sickness or disability, they and family members benefit from the scheme.
Over the years, the Trust has been riddled with one controversy and the other, and moneys meant for the people have been cornered in the name of bad investments.
The 2015 Audit Report on the Accounts of the Government of Sierra Leone has exposed how billions and billions of the people’s moneys are unaccounted for at NASSIT, some reportedly altered in the name of investment.
According to the report, benefit payments totaling Le38, 658,004,000 and Le63, 712,021,000 were made to beneficiaries during 2013 and 2014 respectively, but that supporting documents such as payment vouchers, benefit computations schedule and other relevant supporting documents were not submitted for audit inspection about the massive payments.
The Auditor General recommended that the said documents should be submitted within 30 days of receipt of the report.
The Director General, Joseph Saidu Mans however states “management had instituted an investigation on the account to ensure that the appropriate payments vouchers, benefits computational schedules were submitted for audit inspection.”
The Audit team was provided with documents relating to payments amounting to Le42, 342,396 and Le9, 086,461 for 2013 and 2014 respectively during the verification exercise.
“However, considering the amount involved, the audit team was unable to satisfy that sufficient amount of vouchers was provided to ascertain the completeness and accuracy of the entire population. Therefore, the issue remains unresolved,” the Audit Team concluded.
Meanwhile, unconfirmed report revealed that a year ago, NASSIT bought a vehicle cost over 700 Million Leones for the Director General and has made number of bad investment over the years.