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OIC Board Chair Exposes Predecessor’s Sleazy Deals 

By Bouddih Adams

Board Chair of COIC, Buea,Moses Ekeke Njuma

Board Chair of COIC, Buea,Moses Ekeke Njuma

The new Board Chair of the Cameroon Opportunities Industrialisation Centre, COIC, Buea, has virtually knocked open a can of stinking sleazy deals and mismanagement by the former Board.

The new Board, led by retired Major Moses Ekeke Njuma, in a report at an interest group meeting on August 20, elucidated how the Board led by Barrister Sam Ekontang Elad ascribed funds for certain aspects but did not use the funds in that direction.

In his address, the ex-Military Officer’s words were fired like bullets as he welcomed; “… the new Board of Directors that was elected in our last turbulent AGM of the August 22, 2015, that saw the destitution of the former Board Chairman and his entire Board of Directors for reasons of mismanagement.”

Major Ekeke said from the very first week when they took over; “… we were not given time to settle down to appraise ourselves with the task that awaited us, but were only welcomed by challenges in the form of misrepresentation, intoxication, rumour mongering, blackmail, incitements and you name the rest and in the majority of the cases from among other members of this very interest group.”

He said, just a few weeks in office, the entire new Board of Directors including the Mayor, was dragged to court by Mr. Thaddeus Eyong, contesting their election.

Enumerating the jinx in COIC which includes lack of communication, he said it gives room for rumours, intoxication and misinformation from some unscrupulous interest members who have been a real distraction.

He said, despite the hurdles after taking office, his Board, in a meeting, took up as their mission: “Bringing sanity into the management of affairs at Cameroon COIC.”

He asserted: “We discovered that we were inheriting a very dirty house that required that we all fold up our sleeves and work extra hard if we intended to do better than our predecessors.

Hear him: “There are many more details you need to know before you understand how sick the OIC was …”

Enumerating the debts his Board inherited, Ekeke stated: “It is worth knowing that COIC is heavily indebted to the State (Taxation and NSIF), to a number of financial institutions (Banks) and to other creditors who rendered services by supplying different materials and items but could not be paid for many years, some as far back as 2002.”

Disclosing that COIC owes these institutions more than FCFA 400 million, Ekeke averred: “Investigations show that the reasons why the former Board Executive and management were not paying these debts range from bad faith to selfish interests.

They preferred to satisfy their personal ego by embezzling through mismanagement rather than pay the debts. They went ahead incurring loans from banks under the pretext of paying staff salaries, whereas Government subventions are meant to pay staff salaries before doing anything else.”

He, however, said measures have been taken and the debts are being serviced, the staff is no longer owed arrears and students affairs are at the centre of the new administration.

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