Stage set for Namfisa CEO hearing

CHARGES have been finalised and the stage has been set for Namfisa CEO Rainer Ritter’s disciplinary hearing. All that remains to be done is the appointment of a chairperson for the hearing, and the setting of the date.

Ritter is facing charges based on the preliminary findings of an Ernst and Young investigation into allegations of irregularities at the financial watchdog. The specific charges that Ritter will be facing remain unknown to the public. Namfisa board chairperson Rick Kukuri on Thursday told The Namibian that these charges could not be disclosed until the process has been set in motion. At this stage, according to reliable sources, the charges appear to relate 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’. This was preceded by reports that Ritter had been provided with 24-hour Police protection following threats to his and his family’s lives after he had got wind of irregularities at Namfisa from 2006 onwards.According to Kukuri, the charges against Ritter have been finalised and forwarded to the suspended CEO, a panel has been assembled, and the only questions that remain are that of the date and the final players involved.’Unfortunately there was a delay because the chairperson identified for the hearing (panel) had to withdraw due to a clashing programme, and we are now looking for a replacement,’ Kukuri told The Namibian.The Namibian reliably learnt two weeks ago that Advocate Gerson Narib would head the panel, but neither Narib nor Kukuri would confirm or deny this at the time.Kukuri said a date agreeable to all the parties involved would have to be set. ‘I can’t speculate on the date as yet, but from our [the board’s] perspective, the sooner the better. A delay would not be in anyone’s interest,’ he said. Ernst and Young’s investigation into the regulatory authority is continuing, and the board intends to discuss the findings with the auditing firm by the end of this month. To date, Ritter has been the only Namfisa employee suspended based on the investigation’s findings.nangula@namibian.com.na