Rip-off at SHC: Managing Director in alleged 'loot'

Managing Director in alleged 'loot' of cars, furnitures, utensils, mobile phones, computers etc at sick coy as he heads for retirement

Following startling revelations by GYE NYAME CONCORD concerning the level of rot and alleged corruption at the State Housing Company Limited (SHC), more horrible exposures that could best be described as outrageous, continue to emerge.

Documents sighted by Gye Nyame Concord suggest that the current Managing Director of the company, Mr. Sarpong Mensah, whose working contract expires December this year, may retire with an unbelievable package with the tendency to cripple the state institution.

Apart from the alleged ¢1billion hard cash, official residence with all furnishings, official vehicle among others, the CEO/Managing Director is billed to retire with even mobile phone(s) and laptop computers provided him by the company - a move described by SHC insiders as unprecedented.

After scheming to have the old Board of Directors approve a new package for an outgoing CEO/Managing Director, Gye Nyame Concord can confirm that there is a move by the Mr Sarpong to outwit the new Board of Directors, chaired by Mr Yaw Nyame, to have his retirement package go either unnoticed or unchallenged.

In a memo titled "APPROVED PACKAGE FOR OUTGOING CEO OF SHC" from the Solicitor Secretary of SHC to the Director of Administration on 10th May, 2007, in which the details of the said retirement package was discussed, it stated that "official vehicle in the custody of an outgoing CEO who had been at post for four years or more and which is more than three years old shall be given to him/her free".

Again, "official vehicle in the custody of an outgoing CEO who had been at post for less than four years or which is less than three years old (or both) shall be valued by the State Transport Company Limited and sold to him/her at 5% of its depreciated value".

The memo added that household chattels, eg furniture, fridge, television, etc provided by the Company in an official residence shall be given free to an outgoing CEO who had been at post for four years or more.

Moreover, "Laptop computer or mobile phone allocated to him/her shall be given free to an outgoing CEO who had been at post for four years or more" in addition to "a parting gift as determined by the Company".

In connection to other benefits, the memo noted that "all other benefits provided for in the Senior Staff Conditions of Service shall be applicable to a former CEO".

However, this paper gathered that the so-called emergency meeting that approved the package took place as far back as March 2006 whiles the Solicitor Secretary wrote to the Director of Administration on May 10th, 2007 to "kindly note same for future reference."

A source at the office of the MD told this reporter that Mr. Sarpong allegedly dished out State Housing plots to all members of the old Board of Directors to have them approve this retirement package. (Details on the plots allocation soon).

Civil service experts, who have been speaking to this reporter, warn of serious breach of the service's rules should SHC go ahead to implement such a package.

This is because, according to the experts who spoke on condition of anonymity, it is against the law for a CEO/MD of a State institution to retire with a four wheel drive vehicle.

In Mr. Sarpong's case, he is currently using a four wheel drive official vehicle.

Another obstacle that the MD's alleged move will have to face is the approvals from the office of the Chief of Staff as well as the sector ministry-Water Resources, Works and Housing.

Concerns have also been raised by some workers at the company's headquarters bordering on the continuous survival of SHC when Mr. Sarpong retires, considering his records at both the Tamale and Ashanti zones of the company where he allegedly collapsed them on his exit.

An officer from the company's finance outfit hinted this reporter that as at May, 28th this year, SHC's coffers were horrible, screaming "if he is allowed to go with all these, the company will collapse"!

Stay tuned and read about how a top officer of the company manoeuvred to acquire SHC's official residence for the Ashanti Zone Director and how a parcel of land is alleged to have been sold to a phantom to the tune of about ¢12billion secretly!

More anon.