Namfisa hearing shrouded in secrecy

THE disciplinary hearing of Namfisa CEO Rainer Ritter began yesterday, but questions around the charges he faces or the members of the hearing panel are still unanswered.

Yesterday’s proceedings were shrouded in secrecy, with all parties approached reluctant to comment, but some assuring The Namibian of comment today.The prosecutor on the hearing panel remains unknown, though reliable sources revealed to The Namibian that Advocate Gerson Narib was the man for the job. However, neither Narib nor Namfisa board chairperson Rick Kukuri would confirm or deny this.The chairperson for the hearing is also unknown.Advocate Dave Smuts is representing Ritter at the hearing, which is expected to last until Friday.Contacted for comment, Smuts told The Namibian that ‘proceedings are ongoing and I can’t say anything at the moment that might jeopardise the process’.Ritter also declined comment, simply saying: ‘I can’t say anything!’ Ebben Kalondo, Head of Corporate Communications at Namfisa, said information on the hearing would be made available today; while Kukuri could not be reached for comment.Namfisa’s instructing attorney, Profysen Muluti, was also quiet on the proceedings of the day and the players in Namfisa’s court, asking The Namibian to check back today instead.Previously, Muluti had said: ‘After the hearing starts, we might be able to disclose the charges, but we can’t divulge anything before Ritter has had an opportunity to answer on the allegations.’Ritter is facing charges based on the preliminary findings of an Ernst and Young investigation into allegations of irregularities at the financial watchdog. The specifics of the charges, however, remain a mystery, though The Namibian has learnt reliably that the charges appear to relate primarily to administrative issues.Ritter was suspended on March 10, immediately following a one-month leave of absence granted by Namfisa’s board of directors ‘for health reasons’.His leave was preceded by reports that he and his family had been provided with 24-hour Police protection following threats to their lives after he had got wind of irregularities at Namfisa from 2006 onwards.nangula@namibian.com.na