MONROVIA — President Joseph Nyuma Boakai 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, amid allegations of financial improprieties and board oversight failures.
An official statement from the Executive Mansion indicates that the suspensions take immediate effect and align with the President’s pledge to promote transparency, accountability, and sound governance in public institutions.
The Executive Mansion stated that the decision follows an investigation into NICOL’s operations and will remain in place pending the outcome of a full systems audit.
In the interim, Deputy Managing Director for Administration Mr. Abdullah S. Swaray has been appointed as Acting Managing Director. Mr. Ansumanah Jallah, current Board Co-Chair for Finance and Audits, will serve as Acting Chairman of the Board.
“The Government of Liberia remains committed to upholding the principles of good governance, and the President assures the public that all actions taken are in the best interest of the Liberian people,” the statement concluded.
