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NASSIT rescues Comercial Bank with Le19 Billion to offsets liquidity crisis

It would be recalled biblically that Jesus Christ told his admirers that he has come for the sick and not for those who are well, when questioned about his mission. This could be in parallel to the recent preaching of the current administration of NASSIT to the people of this country. That the initiative for the setting up of NASSIT is gradually beginning to be realized, not only to some national institutions that could be seen as financially sick and in need, but also to retirees whose hopes have been shattered of benefitting from their contributions to the scheme.

The current administration, which composition and supervision is in high gear and of competent Sierra Leoneans are sending condolence messages and salvation to all and sundry that the present crop of experts are bent on taking the institution to an enviable height and give hope to the hopeless.

“It is undisputable that business investment may go bad, but when gains are beginning to be realized, it would offset what had been lost or considered a bad business venture” echoed a business guru with over thirty nine years experience.

Those days seemed to be over, when NASSIT found itself in a dilemma. As an investment entity, gains are beginning to signal and the days of rotten ferries brought to the country have been put behind the backs and the pessimist are also witnessing a radical change, which some national institutions are currently benefiting from.

Few months back, with the intervention of NASSIT, the Sierra Leone Commercial Bank was able to regain its financial position and retain its business reputation to its customers and the general public. The sum of Le19 Billion became the saving grace for the Country’s National financial institution, if not it could have continued walloping in distress and financial crisis.

As if that was just a tip of the iceberg, NASSIT may be calculating its profits from the 4,000 stalls at present under construction at the Victoria Part that will be rented out to traders and get them out of the streets permanently. With Radisson Blu Hotel becoming the cozy palace for guests enjoyed the United Nations Secretary General, Banki Mon and Second Lady of the United States of America, Mrs. Joe Biden there is certainty that all is not lost and assumptions held by some sections of the public have been proven wrong as the establishment is now showcasing itself as a viable and productive National Asset that can remedy any ugly situation when called upon to do so.

Technological systems put in place has been able to reject frauds and other manipulations that were causing setbacks and pilfering, which sometime back subjected  the establishment in a non enviable position and lack of interest from the public. The completion of the long awaited Kimbima Hotel and funds generated will put the investment gains of NASSIT in a solid position to give back what was subscribed to it by its subscribers a handy and beautiful package. It is estimated that in a period of five years, NASSIT may be richer than the State of Sierra Leone, where the latter would fall back for rescue if the present focus and supervision are not altered.

The investment gains speculated when the numerous projects are fully ripe will contribute immensely to change the face and perception of people about NASSIT, and will attract endless applications both from within and outside the country. When that happened, competition for a single seat or office space will be a tense exercise as every individual would want to be counted as a contributor to the growth of the entity.

NASSIT has gone through terrible periods in the history of Sierra Leone. At some points, it became the front page seller of the local tabloids, exposing corruption, discrimination and misappropriation of funds, but the recent overhauling has dramatically changed the face of the institution to one that hope has been restored for the general good of the people of this country.

Posted by on 6:58 pm. Filed under NEWS, Uncategorized. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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