Skip to main content

Board Politics, Fraud Forced NAHCO MD To Resign Appointment

Less than a month after SaharaReporters exclusively reported attempted fraud by the Board of Directors of the Nigerian Aviation Handling Company (NAHCO) Plc, the agency's Managing Director, Norbert Bielderman, has tendered his resignation.
Mr. Bieldermam, a German who was appointed the Managing Director of the company in December 2013, is scheduled to exit the company on August 31, 2017.
SaharaReporters had in April reported a plan by the board to re-introduce the suspended Management Support Agreement (MSA) where three percent of the company’s gross earnings was shared among members of NAHCO's Board of Directors.
In addition, SaharaReporters had disclosed that the Board of Directors of the ground handling company was seeking to spend a whopping sum of N155 million on an ostensible overseas training for members. Mr. Bielderman had kicked against the wasteful and fraudulent moves, and threatened to tender his resignation if the board insisted on pressing forward with the questionable agenda. 
Our investigations further found that the Board of Directors, led by Chairman Usman Bello, planned to share the sum of N700 million as MSA among the 11 board members.
Our investigation disclosed that the N700 million to be shared among board members was a backlog of the money that would have been shared in the past one year if the Security and Exchange Commission (SEC) had not ordered the shady practice stopped.
MSA, which was secretly introduced in NAHCO some few years ago by the former Chairman of the company, Mallam Suleiman Yahyah, was stopped by SEC, after a thorough investigation concluded that the scheme was fraudulent.
A statement issued on Thursday by NAHCO's spokesman, Tayo Ajakaye, said Mr. Bielderman had already tendered his resignation letter to the Board of Directors.
Mr. Ajakaye revealed that Mr. Bielderman joined NAHCO in May, 2010, and was appointed Executive Director in charge of Operations on December 6, 2013. The German national was named Acting Managing Director in October 2014 and was confirmed in April, 2015.
Mr. Ajakaye also announced other changes approved for the company after the board met yesterday. The changes include the retirement of Faruk Umar from the Board and his replacement by Sunny Nwosu. Mr. Umar, who was the director representing minority shareholders on the Board, was appointed to the Board on June 22, 2011. 
NAHCO's spokesman added, "The resignation notice given by Mr. Bielderman has activated the company’s well laid-down succession planning process. The regulators, Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE), have been duly notified of the new development.”

NAHCONairametrics
Labels:

Comments

Post a Comment

Popular posts from this blog

Kenny Baker, actor behind R2-D2, dies

The 3ft 8in actor, who starred in six Star Wars films as well as Time Bandits and Flash Gordon, was 81 The British actor who played R2-D2 in the Star Wars films has died at the age of 81 after a long illness. Kenny Baker, who was 3ft 8in tall, shot to fame in 1977 when he first played the robot character. Meeting Kenny Baker, the real-live human behind R2-D2 He went on to play the character in The Empire Strikes Back and Return of the Jedi, as well as the three Star Wars prequels from 1999 to 2005. He also appeared in a number of other much loved films in the 1980s, including The Elephant Man, Time Bandits and Flash Gordon. His niece, Abigail Shield, paid tribute to her uncle. She told the Guardian: “It was expected, but it’s sad nonetheless. He had a very long and fulfilled life. He brought lots of happiness to people and we’ll be celebrating the fact that he was well loved throughout the world. We’re all very proud of what he achieved in his lifetime.” Baker and Shiel...
Post a Comment
Read more

What You Must Not Tell Kidnappers - Victim Reveals

The arrest of notorious and billionaire kidnap kingpin, Evans, does not decimate kidnap cases in Nigeria. Kidnappers are on the look-out for the next victim. One just need to be vigilant so as not to fall prey into their hands. An abductee of one of the recent kidnap cases of the Abuja-Kaduna expressway has revealed the traumatic experience he and others underwent in the hands of their dreaded abductors. The victim, who craved anonymity for security concerns, revealed what caused the instant death of two kidnap victims whom they were abducted together. The victim, told BBC Hausa Service that two of the kidnapped passengers were killed for admitting that they had nobody to pay their ransom. "I was traveling to Kaduna and we left Zuba garage on a commercial car. On reaching Katari (town), we met the kidnappers; 7 of them. They stopped us and chased us into the tick of the bush. We trekked from 1pm until 3am. “We don’t know where they kept us in the bush, because I have ne...
Post a Comment
Read more

Comedian Basketmouth robbed in his Lekki home

Basketmouth Famous Nigerian stand-up comedian, Bright Okpocha popularly known as Basketmouth and his family were in the early hours of this morning robbed at their Lekki home at gunpoint. His close friend and colleague, comedian Bovi took to his Instagram page to say that Basketmouth and family are safe and unhurt after the robber’s invasion. According to Bovi, the bandits carted away valuables and the security footage. See his post below:
Post a Comment
Read more