• September 24th, 2018
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NDC Boss Faces the Chop

By Kuvee Kangueehi Windhoek The disciplinary hearing of the Namibia Development Corporation (NDC) Chief Executive Officer (CEO) Abdool Sattar Aboobakar and the head of Finance and Administration Addis Faul has recommended to the NDC board that the two officials be fired with immediate effect. The hearing made the recommendation on Friday after the two officials were found guilty on most charges levelled against them concerning a missing N$55-million investment. A lawyer close to the proceedings told New Era that according to NDC policy, the board should inform the line minister of its intention to terminate the working contracts of the two officials. The lawyer added that to their surprise, the two employees have indicated their intention to appeal, as they believe that they followed all the required procedures in making the ill-fated N$55 million investment. At this stage it is not clear on what grounds the suspended managers intend to appeal, he said. "The two suspended managers on Friday morning refused to give evidence during mitigation. I think they should be given medals and found guilty." The defence lawyer of the two suspended managers, Elia Shikongo could not be reached for comment. The dismissal verdict was passed by a disciplinary hearing and follows their role in the investment of the missing N$55 million belonging to the NDC. The NDC channelled the money to the Offshore Development Company (ODC) for investment. Lawyer Lucius Murorua, who is the chairperson of the disciplinary hearing found Aboobakar guilty on all charges, while Faul was found guilty of all charges except one. Faul was found not guilty on the charge that he wrongfully and unlawfully withheld information from the corporation's board of directors, of the unlawful and wrongful approval of investment, and the subsequent unlawful and wrongful transfer of funds to ODC. The N$55 million investment forms the biggest part of the missing N$100 million invested with an unknown Botswana investment company, Great Triangle Investment (GTI). Aboobakar and Faul were suspended on December 5, 2005 on recommendations from the Engling, Stritter & Partners law firm. The firm acted on behalf of the NDC to investigate how N$55 million of NDC money was passed on to the ODC for investment. The charges against Aboobakar and Faul are of gross negligence, poor performance, a charge of exceeding their powers and dereliction of duties. Werner Boesak, on instructions from Engling, Stritter & Partners is the initiator of the disciplinary hearing, while Shikongo is representing Aboobakar and Faul.
2006-03-28 00:00:00 12 years ago
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