The National Social Security Authority has been sucked into a scandal involving $1,4 million and a suspected criminal on the police wanted list. Police are investigating both NSSA and a local bank, though no arrests have been made.
NSSA marketing and communications executive Mr Tendai Mutseyekwa said, “NSSA is aware of the matter. The matter does not involve any NSSA staff. Nssa has not lost any investment and has since withdrawn its investments with the bank.”
Investigations by The Sunday Mail show that NSSA invested US$1,4 million in the bank which subsequently transacted with a businessman facing possible arrest for various crimes.
A red flag was raised, with detectives interviewing Nssa employees on January 16, 2018.
An official who preferred anonymity said, “Nssa didn’t lose money because the investment with the bank was recalled and the two cut ties. Nssa didn’t deal with the suspected criminal. It was the bank that dealt with the person who is on the Interpol wanted list.”
In recent years, Nssa has been in the spotlight for questionable investments. It sunk money in the now-defunct Capital Bank; US$2,5 million in CFX Bank; US$12 million on overpriced Satafrica shares and US$1,5 million in Africom Continental.
Further, it also lost property worth US$11,2 million to local authorities over non-development, and gave “non-profitable” loans to parastatals. Sunday Mail
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