Sierra Leone National Insurance Company in Limbo as Managing Director And Chief Accountant Suspended

Report New Age revealed that the Managing Director of the National Insurance Company (NIC) and his Chief Accountant have both been suspended.

Both the Managing Director and the Chief Accountant were suspended last Friday 10^th December after a protracted Board Meeting. The reason for the suspension is because of their failure to write a comprehensive financial statement that was demanded from them by the board.

It is believed that the Board has been asking both the MD and the Chief Accountant to give a comprehensive financial statement for months but they have failed to do so.

That both the MD and the Chief Accountant disinvested over 500 million Leones worth of investment without prior knowledge of the Board for which the MD has failed to convincingly explain to the Board.

New Age reported that, this latest development came after staff of the institution, recently downed operations over what they described as poor conditions of service and mismanagement by the institution.

They did not down operations, but demanded the Managing Director (MD) should summoned a general meeting in order to explain what is going on in the company.