Employees at the U.S. Embassy in Freetown have accused the National Insurance Company (NIC) of breaching contractual obligations by failing to refund savings and insurance contributions months after terminating their policies.

The affected staff said they ended their savings and insurance arrangement with NIC in early 2025, completing the process in April. They expected refunds by December 2025 under an agreed payment plan, but say they have not yet received the money.

“We are really not happy with NIC and the way they have treated us,” said Alhassan, one of the affected employees. “The agreement was for us to receive our money back by December 2025 at the latest, but they have failed to honour that commitment. We have held several meetings with them, but nothing has come out of those engagements.”

The employees said the delays have eroded the value of their savings because contributions were made in Sierra Leonean leones, which have depreciated against the U.S. dollar.

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“Our money keeps depreciating by the day because we paid into the scheme in leones,” Alhassan said. “People who have been saving with the company for 10 to 15 years have already lost significant value due to the depreciation of the currency.”

He added that concerns over the falling value of the Leone and low annual interest payments were among the reasons they terminated the arrangement. Another employee, who requested anonymity, said she may pursue legal action if the matter remains unresolved.

“My hard-earned savings are sitting with NIC and doing nothing for me,” she said. “The company has also stopped paying interest on the money. If I do not receive my refund, I will seriously consider taking legal action.”

NIC Managing Director Jabez B. Rogers-Wright Jr. disputed claims that the company agreed to refund the employees by December 2025, saying the date was part of a proposed payment plan only.

“We proposed a timeline, but they were not comfortable with it,” Rogers-Wright said. “There was no final agreement committing the company to pay by that date.”

He acknowledged that the state-owned insurer is facing serious financial difficulties that predate his appointment in November 2024.

“When I assumed office, I inherited huge liabilities,” he said. “The company is dealing with significant challenges, and our inability to settle this matter stems from financial incapacity.”

Rogers-Wright said he has written to the government seeking intervention and support to address NIC’s liabilities, including the claims involving U.S. Embassy employees. He also noted the potential diplomatic implications of the dispute.

“The American Embassy is an international institution. If this matter remains unresolved, it could affect the relationship between a state-owned institution and the embassy,” he said. “I am equally troubled by the situation and have been exploring every possible avenue to resolve it.”

Rogers-Wright maintained that NIC remains committed to honouring legitimate claims and policy obligations, stating that claim settlement is fundamental to the insurance business.

The affected embassy employees continue to demand immediate repayment of their funds, arguing that prolonged delays have caused substantial financial losses and undermined confidence in the state-owned insurer.