NDC investment triangle continues

TWO months after Managing Director Abdool Aboobakar and Finance Manager Addis Faul scored a partial victory in an appeal against their dismissal from the Namibia Development Corporation (NDC), the parastatal this week plopped the ball back in the duo’s court.

Aboobakar and Faul were given their marching orders following a disciplinary hearing related to a N$55 million investment linked to a dubious N$100 million deal made by the Offshore Development Corporation (ODC). In the latest round round of a ping-pong battle over the legalities of the dismissal, the NDC now wants Aboobakar and Faul’s lawyers to come up with suggestions on what sanctions should be imposed on the two men.The lawyer who decided on the appeal, George Coleman, found that the duo should have been found guilty on one of the five charges levelled against them, not four as the disciplinary hearing found.Coleman had in fact suggested that the matter should be referred back to the original disciplinary panel to investigate and reconsider their recommended sanction of dismissal.On Tuesday, the NDC sent a letter to the two men’s legal representatives requesting a meeting the next day, Wednesday.In the letter, dated July 21 but which was apparently only faxed to Aboobakar and Faul’s lawyers on Tuesday afternoon, the NDC disciplinary panel asked Lawyer Elias Shikongo and Labour Relations Practitioner Robin Raines to “make a presentation about sanctions to be imposed”.In layman’s terms this means that the two lawyers who defended the former NDC boss and his financial manager were being asked to inform the disciplinary tribunal – in less than 12 hours – “why not to fire the duo”, a legal expert told The Namibian.”This evidence must be led and arguments must be heard in such a situation,” the expert added.Labour Relations Practitioner Robin Raines confirmed the receipt of the letter.”Mr Shikongo immediately sent a reply letter on Tuesday that it was impossible for both of us to make a presentation in such a short time and that we both had commitments this week.”Shikongo and Raines would only be available from 10 August onwards, their reply said.Approached for comment, ODC Board Chairman John Nekwaya said he was aware of the new date requested by the defence team.”We received their reply and hope that a date can be fixed next month,” Nekwaya told The Namibian.The N$55 million was part of N$100 million the ODC invested with a shady company registered in Botswana, Great Triangle Investments.The N$100 million has still not been traced.In Coleman’s opinion of May 26, the five charges were improperly split and the disciplinary panel made a mistake in finding the two men guilty on several charges.They should have been found guilty of exceeding their powers by causing NDC to invest the money through the ODC without the approval or knowledge of the NDC Board of Directors, Coleman said in his findings.The Namibian has subsequently learnt that Addis Faul, however, had apparently secured a guarantee from the ODC – the NDC’s sister company – for the N$55 million investment.”By making the ODC sign a guarantee for the NDC monies, Mr Faul has actually saved the NDC and the corporation has no financial loss from that investment, that is only with the ODC,” a source said.In the latest round round of a ping-pong battle over the legalities of the dismissal, the NDC now wants Aboobakar and Faul’s lawyers to come up with suggestions on what sanctions should be imposed on the two men.The lawyer who decided on the appeal, George Coleman, found that the duo should have been found guilty on one of the five charges levelled against them, not four as the disciplinary hearing found.Coleman had in fact suggested that the matter should be referred back to the original disciplinary panel to investigate and reconsider their recommended sanction of dismissal.On Tuesday, the NDC sent a letter to the two men’s legal representatives requesting a meeting the next day, Wednesday.In the letter, dated July 21 but which was apparently only faxed to Aboobakar and Faul’s lawyers on Tuesday afternoon, the NDC disciplinary panel asked Lawyer Elias Shikongo and Labour Relations Practitioner Robin Raines to “make a presentation about sanctions to be imposed”.In layman’s terms this means that the two lawyers who defended the former NDC boss and his financial manager were being asked to inform the disciplinary tribunal – in less than 12 hours – “why not to fire the duo”, a legal expert told The Namibian.”This evidence must be led and arguments must be heard in such a situation,” the expert added.Labour Relations Practitioner Robin Raines confirmed the receipt of the letter.”Mr Shikongo immediately sent a reply letter on Tuesday that it was impossible for both of us to make a presentation in such a short time and that we both had commitments this week.”Shikongo and Raines would only be available from 10 August onwards, their reply said.Approached for comment, ODC Board Chairman John Nekwaya said he was aware of the new date requested by the defence team.”We received their reply and hope that a date can be fixed next month,” Nekwaya told The Namibian.The N$55 million was part of N$100 million the ODC invested with a shady company registered in Botswana, Great Triangle Investments.The N$100 million has still not been traced.In Coleman’s opinion of May 26, the five charges were improperly split and the disciplinary panel made a mistake in finding the two men guilty on several charges.They should have been found guilty of exceeding their powers by causing NDC to invest the money through the ODC without the approval or knowledge of the NDC Board of Directors, Coleman said in his findings.The Namibian has subsequently learnt that Addis Faul, however, had apparently secured a guarantee from the ODC – the NDC’s sister company – for the N$55 million investment.”By making the ODC sign a guarantee for the NDC monies, Mr Faul has actually saved the NDC and the corporation has no financial loss from that investment, that is only with the ODC,” a source said.