August 15, 2018

NHIS boss in another controversy, ignores TSA, moves to invest N25bn in FGN Bonds (ThisDay)

NHIS boss in another controversy, ignores TSA, moves to invest N25bn in FGN Bonds (ThisDay)

The Executive Secretary of the National Health Insurance Scheme (NHIS), Prof. Usman Yusuf, is embroiled in yet another controversy following his decision to invest at least N25 billion of the scheme’s funds in government securities through Cowry Asset Management Limited.

This is even as the Minister of Finance Kemi Adeosun and her counterpart in the health ministry, Prof. Isaac Adewole, according to documents seen by THISDAY, have both warned against the investment, saying it is in violation of the government’s Treasury Single Account (TSA) policy.

The TSA policy requires all federal ministries, departments and agencies to domicile their funds in the TSA with the Central Bank of Nigeria (CBN), except where the agency is granted exemption by the federal government. Read more

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