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Shareholder Shocks SIC’s Diabolic AGM with Injunction

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A plan by SIC Insurance PLC to hold its 2024 Annual General Meeting on December 17, 2024, is now effectively on ice, after its third highest shareholder secured a court injunction against crucial items on the agenda of the AGM.
Mr. Daniel Ofori, who commands 11,570,515 shares, representing 5.9% of SIC’s total share secured the injunction through a 13th December, 2024 suit at the High Court in Accra.
And by dint of this suit, the man who only has fewer shares than the government of Ghana through the Ministry of Finance and the Social Security and National Insurance Trust (SSNIT) has everyone by the throat because among the things he has injuncted are the confirmation of SIC’s new Board Chairman, Dr. Rauf Audu and the Acting managing Director Ms. Hollistar Duah-Yentumi.
Meanwhile, the basis of his suit is Management’s alert to him that he will not be re-elected as a non-executive Director of the Insurance Company.
Mr. Ofori has been serving as non-executive member of SIC since 2014 and is due for re-election as retiring director – a position that lasts for a two year tenure.
However, SIC’s Management, through a 22nd October, 2024 letter, informed him that he is ineligible for re-election
According to the Management, his debarment for reelection is on the basis of a directive from the National Insurance Commission (NIC).
However, in his deposed affidavit, Mr. Ofori argues that those directives were issued as far back as 2021 but Management never brought it to his notice.
Even so, he avers that by virtue of that same directive, he is entitled for re-election as a retiring non-executive director – which is to run for two years.
Mr. Ofori avers further that even though these have been brought to the attention of Management, the notice that it issued to announce the AGM also indicated that Mr. Ofori will not be considered for re-election. And this is in spite of the fact that SIC intends to use the same AGM to re-elect elect others as retiring non-executive directors.
He had gone to court praying for a declaration that, “the election and/or ratifying the appointment of the Respondent’s directors and the re-election of retiring directors to the exclusion of Applicant is illegal and:
An order of injunction restraining the Respondent herein at its Annual General Meeting scheduled for the 17th day of December 2024 from:
a. Electing and /or ratifying the appointment of its directors
b. To re-electing retiring directors
c. To approve the directors’ remuneration
And the court granted the injunction.
Meanwhile, sources have hinted that the individuals currently at the helm of SIC are not qualified for the positions they occupy and have since not been given approval by the insurance industry regulator, the National Insurance Commission (NIC) as such.
The Acting MD and Board Chair are currently not in good standing with the National Insurance Commission. In spite of this, the Acting MD is said to have made very consequential changes in the organogram of the company, basically putting square pegs into round holes.
She is also said to be effecting targeted transfers, unmerited promotions and direct interference in specialized professional areas within the SIC group, causing agitations among staff.
It is not clear if the AGM will take place as scheduled amidst the injunction on some items on the agenda or to be rescheduled.

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NPA Boss in Dubious Last Minute Mass Shake Up

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The outgoing Chief Executive of the National Petroleum Authority (NPA), Mustapha Abdul Hamid, has given approval for a series of mass recruitments within the Authority despite being on the verge of leaving his position.

On the 11th of December, 2024, Abdul Hamid circulated a confidential memo labeled “Transfers, Movements, Appointments, and Upgrades” to both Management and staff, detailing the controversial recruitments and redeployments.

“As a follow-up to the memorandum dated 20th November, 2024, outlining measures to enhance the Authority’s efficiency in addressing the needs of internal and external stakeholders, the following transfers, movements, appointments, and upgrades will come into effect on the specified dates,” stated the memo.

The confidential memo contained a list of 49 names earmarked for recruitment, transfers, and appointments.

These individuals are purportedly affiliated with the New Patriotic Party (NPP), raising concerns that Mustapha Hamid is filling the NPA with political allies.

Noteworthy is the trend of widespread recruitments occurring across various Ministries, departments, and agencies at the behest and coordination of outgoing officials from the Akufo-Addo administration.

Accompanying these actions are substantial payments being processed by the government, indicating what seems to be a final phase of plunder and subversion following the NPP’s defeat in the December 7, 2024, elections.

The incoming Mahama administration has pledged to reverse these appointments and financial transactions.

A statement released by the transition team and signed by spokesperson Felix Kwakye Ofosu made it clear that the eleventh-hour appointments will be invalidated.

“To be clear, all public officials are strongly advised to resist any attempts by outgoing political figures to participate in these activities as there may be serious repercussions once the new government assumes office,” read part of the statement.

However, it has come to light that the last-minute appointments are being retroactively dated in a bid to circumvent the incoming administration set to assume power on January 7, 2025

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Cyber Capo’s Torture ‘Chamber’ Uncovered

The Shocking Story of Kidnapping and Human Rights Abuse

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The New Republic Newspaper has discovered a secretive dungeon hidden within the Osu suburb of Accra has been unearthed. Operatives of the clandestine National Signal Bureau are the masterminds behind this covert facility, utilising it to unlawfully detain their victims.

The Bureau, helmed by Director-General Kwabena Adu-Boahen, stands accused of orchestrating a labyrinthine web of illegal activities, including the abduction of unsuspecting individuals under the cloak of darkness.

Adu-Boahene, recently embroiled in the suspected kidnapping of Sylvia, a manager at Emirates Airlines in Ghana, is described as a ruthless figure known to act with impunity.

Under the veil of secrecy, the Bureau’s rogue cabal, answerable solely to Director-General Adu Boahene himself, has brazenly flouted legal protocols by conducting unauthorized arrests and detentions.

Effort made by TNR to ascertain official position of the Signal Bureau on the shocking revelation has proven futile.

Journalists, political dissidents, and those deemed as adversaries to the Akufo-Addo government have reportedly fallen victim to the Bureau’s shadowy operations.

Within the confines of this clandestine dungeon, shuttered away from public scrutiny, detainees face unspeakable conditions at the hands of a formidable trio of rogue operatives.

Beset by state-of-the-art surveillance equipment procured from abroad, this cabal led by Ben Ansah, a notorious figure within the Bureau, operates with an air of superiority and divine authority.

The menacing presence of Henry Osei Tutu and Simon Kansonk further solidifies this rogue faction as a fearsome force within the Bureau.

The Bureau’s actions stand in stark contrast to its official mandate, which expressly prohibits the arrest and detention of individuals.

The brazen abuse of power by these rogue elements, operating stealthily within the National Signal Bureau, paints a troubling picture of unchecked authority and flagrant disregard for due process.

Allegations of past abuses by rogue National Security personnel underscore a pattern of misconduct and abuse which has fueled concerns over the wanton misuse of power within the security apparatus.

Security analysts have linked these troubling events to a renegade faction spearheaded by Henry Osei-Tutu and Benjamin Ansah, both key figures implicated in various illicit schemes, including abductions and staged robberies.

In the shadows of this covert operation lay disturbing accounts of prominent figures falling prey to these unlawful practices.

The unlawful detention of social media personality Albert Nat Hyde, known as Bongo Ideas, and the harrowing ordeal faced by Sylvia Patience Baah, the Emirates Manager, paint a grim portrait of state-sponsored intimidation and coercion.

As the sordid details of these illicit activities come to light, questions loom over the complicity of higher authorities within the National Security apparatus.

The spectre of abuse of power and the erosion of civil liberties cast a long shadow over the operations of the National Signal Bureau, shrouded in secrecy and intrigue.

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Politics

AG Dumps Party Attorney’s in Accra

…in a ploy to give them juicy positions ahead of inauguration

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The Attorney General’s Department is embroiled in a burgeoning scandal following revelations of a recruitment and posting system apparently skewed in favor of Accra, rendering regional offices incapacitated and ineffective.

Insiders have blown the whistle on startling irregularities within the department: individuals who fell short of passing marks are reportedly being hired under dubious circumstances.

Additionally, employees initially designated for regions such as the Northern and Upper areas have allegedly manipulated the system to avoid their postings, opting to remain in the bustling capital instead.

Accra’s office, bursting at the seams, is now teeming with personnel, while crucial regional offices, essential for dispending justice nationwide, are left deficient in staff. For instance, in Bolgatanga, new recruits are reportedly being selected without consideration for their capacity—or even willingness—to relocate.

Numerous loopholes and clandestine arrangements have enabled many to evade their regional duties, exacerbating the disparity.

The department’s centralized recruitment mechanism has evolved into a looming crisis, perpetuating a climate of preferential treatment towards the capital at the expense of the regions it is obligated to serve.

Justice dispensation in rural areas is grinding to a halt, accentuating a stark dichotomy between Accra and the rest of the country.

Detractors argue that this transcends mere recruitment blunders—it signifies a disloyalty to Ghanaians residing outside Accra.

In underserved regions, residents now encounter extensive delays in accessing legal services, as regional offices operate with meagre workforce, while Accra swells with surplus personnel.

The New Republic has uncovered that regional recruitment protocols, designed to prioritize proximity and commitment to postings, are openly flouted.

With unbridled authority concentrated in the capital, the current centralized system effectively ensures that recruits will fiercely resist relocation, further consolidating the imbalance.

Experts and civil society organizations are advocating for comprehensive reforms to eradicate the corruption and reinstate public faith in the Attorney General’s Department.

Proposed solutions include: Regionalized Recruitment: Delegate hiring authority to the regions to cater to their specific requirements. Mandatory Service: Enforce a minimum three-year tenure in assigned regions before transfer requests are entertained.

Transparency Audits: Regularly investigate postings and reassignments to curb underhanded dealings. Relocation Verification: Impose stringent requirements for proving readiness to relocate for regional duties.

Incentivised Service: Introduce appealing bonuses and prospects for career advancement for employees serving in rural areas.

This scandal lays bare the entrenched dysfunction that has placed hinterland Ghanaians at the mercy of an unequal justice delivery system.

The Attorney General’s Department must take decisive and immediate steps to rectify this crisis. Justice is not a privilege confined to the capital—it is the entitlement of every Ghanaian. The clock is ticking, and the nation is observant.

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