President Joseph Nyuma Boakai, Sr., has, with immediate effect, suspended the Managing Director of the National Insurance Company of Liberia (NICOL), Nortu Jappah, and the Chairman of the NICOL Board of Directors, Joseph Sando Momolu, on account of alleged financial improprieties, Board oversight failures, among others.
The suspension of the two officials is said to be in line with the Presidentβs commitment to transparency, accountability, and the prudent management of public institutions.
The action precedes an investigation which was conducted to ensure the integrity and effective functioning of the entity. The suspension remains in force pending full-scale systemsβ audit of NICOL.
In the interim, President Boakai has appointed Mr. Abdullah S. Swaray, Deputy Managing Director for Administration, to serve as Acting Managing Director of NICOL.
Additionally, Mr. Ansumanah Jallah, the current Board Co-Chair for Finance and Audits, will act as Chairman of the Board, pending further notice.
The Government of Liberia said it remains committed to upholding the principles of good governance, and the President assures the public that all actions taken are in the best interest of the Liberian people.
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