THE National Economic Conduct Inspectorate has called for the heads of former NSSA chairman Albert Nhau and its current general manager, James Matiza following its unravelling of a series of financial irregularities in the way the authority used public funds to acquire properties and shares.
In particular, the NECI is questioning a share purchase by NSSA into Zimbabwe Stock Exchange-listed company Star Africa Ltd at a US$2,5 million premium to market prices, beginning September 2009. The purchase, into a company analysts warned was declining, has now resulted in a more than US$14 million net loss, as the Star Africa share price has plummeted.
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