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A “NEW BABY” IS BORN as US$245,000.00 deal opens

Every day and moments new languages of how to make money is spoken at NASSIT. The object is how individuals, either at the top echelon or Middle Level Management can enrich themselves at the detriment of the contributors of the scheme.images

Strategies of how to milk the Trust is not new or strange to workers at NASSIT, even Laminue Bah the biggest braggadocio who parades the length and breadth of various offices at the Trust advertizing his wealth is also very conversant in milking the Trust. He will be traveling to India anytime from now with a US$100,000.00 package put in place for four of them to proceed to India on the pretext of learning a new programme on Social Security. Two of them had already left, namely Messr. Palmer and Timbo have arrived without any knowledge of what to do or the nature of the programme they are to learn. With US$50,000.00 in their pockets (US$25,000.00) each they can spend the rest of their days either shopping or doing things that can benefit them individually until their return when braggadocio Laminue Bah and the other member of staff will take off with their own share of US$50,000.00, excluding Hotel Accommodation, which had already been paid for by the Trust.

With the level of extravagant spending of contributor’s fund and the numerous unproductive investment schemes; the fall of NASSIT is very imminent.

News about its fall may not be anything new to Sierra Leoneans as signs are clear. Even with all these possible signs, authorities in the APC Government seem to be complacent and paying no attention to prevent it  until when the disaster strikes, excuses would be giving and examples of countries that Social Security has collapsed will be pointed out to the suffering contributors of the Trust.

The document that exposed mis-management, mis-appropriation and embezzlement of funds by Management and Board Members that have turned the Trust into a “milking cow” did not conceal the facts, but laid them bare for all to see. Unfortunately, the document is not accessible to the greater number of the public whose contributions are being plundered every day by those they have entrusted it to for safe keeping and growth.

What could be referred to a new deal in the sum of US$245,000.00 was recently initiated for the establishment of what the NASSIT Project Manager described to be a Corporate Lounge.(Document published in this edition)

The Corporate Lounge in his project document has proposed that it would cost NASSIT US$245,000.00. It is not an investment scheme, but a relaxation centre for managers to share drinks and spend time during and after working hours.

In a document authored by the Law Firm of Macauley, Bangura &Co, External Solicitors of NASSIT, dated 19th November, 2013 and was responded to by Michael P.Mami, dated 19th December, 2013 the issue of Cape Sierra Hotel was discussed.

It is no secret that the Cape Sierra Hotel has become an embarrassment to both NASSIT and the Ernest Koroma APC Government. Reportedly, over US$5Million had been chopped with no sign of progress in sight. The United Kingdom based IDEAS played a fast one on the Sierra Leone Government and NASSIT was brought into the fold to rescue what had already been a public disgrace and in the process of doing so became hooked up in the mess. The Hotel was demolished with hopes that reconstruction of it to be a Five-Star Facility has become impossible. The reality is that every effort purportedly made at the time was a farce; a clever way to destroy one of the Country’s Tourist Centres and makes huge money out of it.

The Handing Over Note of Lawyer Sengu Koroma once an insider of the Trust made a brief comment on the Cape Sierra Hotel saga that has become a mockery to the Government and a partner comparatively to the Mammy Yoko Hotel, where Roger Crook made a lot of fortune.

Cape Sierra Hotel Limited

The Trust, in April 2008, expressed interest to the Government of Sierra Leone to acquire the Cape Sierra Hotel as part of its medium investment strategy, to undertake the project to invest in the rehabilitation and reconstruction of the Hotel to an International First Class Hotel.

The Government of Sierra Leone, through the Ministry of Tourism and Culture, facilitated the acquisition of this asset.  The hotel was acquired on a leasehold basis, for initial rent-free period of 25 years, with an option to renew for another 25 years at a price of US$ 2.89 Million.  Architects were contracted to prepare the drawings for the new hotel and efforts were made by Management to secure partners.  The Board of Trustees was however of the view that the process of securing a partner must be put on tender.  Thus, though the Trust expended money on the drawings, they were never used as a result of the decision of the Board.

By a tender process supervised by the International Finance Corporation (IFC) IDEAS (UK) emerged as the winner to construct a brand new hotel to be managed by the Hilton Group.  A Sub-Lease and Concession Agreement was entered into with the Trust. However, IDEA (UK) has not been able to start work on the site though they have demolished the existing hotel.  They are now claiming that the Trust has failed to give them vacant possession of the entire piece and parcel of land.  The matter is being handled by the External Solicitors.

As it is, the route insisted on by the Board has not really yielded any dividend yet.

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