President Joseph Nyuma Boakai, Sr., has suspended the Managing Director of the National Insurance Company of Liberia (NICOL), Mr. Nortu Jappah, and the Chairman of the NICOL Board of Directors, Mr. Joseph Sando Momolu, with immediate effect.
According to an official statement from the Executive Mansion, the suspension is due to alleged financial improprieties and failures in Board oversight at the institution. The President’s decision is part of his ongoing commitment to promoting transparency, accountability, and sound management practices in public institutions.
The action follows preliminary investigations and will remain in effect pending the outcome of a full-scale systems audit of NICOL. The audit is intended to assess the operational and financial integrity of the institution.
In the interim, President Boakai has appointed Mr. Abdullah S. Swaray, NICOL’s Deputy Managing Director for Administration, to serve as Acting Managing Director. Additionally, Mr. Ansumanah Jallah, the current Board Co-Chair for Finance and Audits, will serve as Acting Chairman of the Board of Directors.
The Executive Mansion emphasized that the Government of Liberia remains committed to upholding good governance and ensuring public trust in state-run enterprises. The President has assured the public that all actions taken are in the best interest of the Liberian people.
Further updates will be provided as the audit progresses.
