Former NSSA executives face prosecution over Celestial Park acquisition

Source: Former NSSA executives face prosecution over Celestial Park acquisition | The Financial Gazette December 8, 2016

THE National Social Security Authority (NSSA) says it has reported former executives to relevant legal authorities over the findings of a forensic audit on the acquisition of Celestial Office Park.
Celestial Office Park, along Borrowdale Road Harare, was acquired by the James Matiza-led executive almost two years ago for US$32 million. Concerns have, however, been raised over the price of the property, which some believe was overvalued. The long payback period, estimated at over 50 years, has also raised eyebrows.
In a statement, chairman Robin Vela said the findings of the final forensic report by Grant Thornton on the acquisition of Celestial Office Park were of such grave and disturbing nature to warrant the board taking serious (commensurate) action.
“We needed to send a clear message, not only to current NSSA senior executives, but to other national institutions entrusted with public funds as well. Cognisant of the above, and the lack of co-operation with Grant Thornton by the former NSSA executives, the board resolved to report the matter to the relevant legal authorities. The above has been done in concurrence and with the consent of the Minister (of Labour),” reads the statement
Vela also announced that the board was on its second phase restructuring exercise focussed on middle management at NSSA. He said the exercise had affected 13 individuals and posts whose incumbents have been advised and will cease to represent NSSA with immediate effect. Negotiations, in line with retrenchment laws, are underway.
“A handover process has been done to ensure service delivery is not compromised. The latest restructuring is part of a continuing process that began in October 2015,” said Vela.
Vela also said the board had approved a voluntary separation which is open to all willing employees of the authority.
Meanwhile, Vela also announced the resignation of chief social security officer, Henry Chikova, with effect from January 31, 2017 after 22 years of service.