d-day for odc and Avid-ssc case

A QUESTION posed in Parliament on a potentially explosive secret report on tens of millions of dollars in taxpayer’s money “lost” through botched investments by State-linked institutions was yesterday withdrawn.

At issue is N$100 million that the Offshore Development Company (ODC) managed to “lose”, and N$30 million in Social Security Commission (SSC) money that “vanished”. The question was withdrawn on the eve of a press conference – scheduled for today – to be held by the Office of the Prosecutor General on “matters of public interest”, including the ODC and Avid cases.Congress of Democrats (CoD) Vice President Nora Schimming-Chase last week asked Attorney General and Justice Minister Pendukeni Ivula-Ithana whether a secret report from the South African government on the tracing of the millions that went missing from the SSC and ODC had been forwarded to her.”I was advised to withdraw my question, as I was informed that investigations are now at a very advanced and sensitive stage and I don’t want to hinder progress in the matter,” Schimming-Chase told the National Assembly yesterday.The N$30 million invested by the SSC vanished after it had been invested with a fledgling BEE company, Avid Investment Corporation, amid reports of alleged political intrigue.A similar fate befell the N$100 million which the ODC had invested via a dubious company in Botswana.The South African report at the centre of Schimming-Chase’s question reportedly traced all payments between various bank accounts and identified certain beneficiaries.The CoD politician had asked the Justice Minister to inform Parliamentarians about “the true state of affairs” regarding the missing millions.Prosecutor General Olivia Imalwa will today brief the public on the latest developments.The question was withdrawn on the eve of a press conference – scheduled for today – to be held by the Office of the Prosecutor General on “matters of public interest”, including the ODC and Avid cases.Congress of Democrats (CoD) Vice President Nora Schimming-Chase last week asked Attorney General and Justice Minister Pendukeni Ivula-Ithana whether a secret report from the South African government on the tracing of the millions that went missing from the SSC and ODC had been forwarded to her.”I was advised to withdraw my question, as I was informed that investigations are now at a very advanced and sensitive stage and I don’t want to hinder progress in the matter,” Schimming-Chase told the National Assembly yesterday.The N$30 million invested by the SSC vanished after it had been invested with a fledgling BEE company, Avid Investment Corporation, amid reports of alleged political intrigue. A similar fate befell the N$100 million which the ODC had invested via a dubious company in Botswana.The South African report at the centre of Schimming-Chase’s question reportedly traced all payments between various bank accounts and identified certain beneficiaries.The CoD politician had asked the Justice Minister to inform Parliamentarians about “the true state of affairs” regarding the missing millions.Prosecutor General Olivia Imalwa will today brief the public on the latest developments.