NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

South African Airways suspends indicted technical and finance chiefs

By Neels Blom on 14/03/2018

Gmail icon

Views: 965


State-owned carrier South African Airways (SAA) has confirmed the suspension of the CEO of SAA Technical, Musa Zwane, and SAA chief financial officer Phumeza Nhantsi.

The decision to suspend the two executives is based on certain allegations made against them following the conclusion of one of the forensic investigations at SAA, airline spokesperson Tlali Tlali said on Tuesday. SAA’s board has resolved to institute disciplinary proceedings against two executives, he said.

SAA has appointed Nona Sonjani as acting chief financial officer and Wellington Nyuswa as acting CEO of SAA Technical. Their appointment is intended to ensure business continuity following the suspension of the group’s two executives on Monday, Tlali said.

Tlali said the suspended executives were still in the employ of the airline and were presumed innocent. He would not provide details of the charges against the executives.

The suspensions follow a qualified audit report by the auditor-general tabled in Parliament last week. The report found, among other matters, that SAA Technical’s inventory could not be verified and that there were insufficient controls in place to manage the inventory.

It found also that SAA group’s assets were not being recorded in financial statements, while the existence of some assets recorded could not be verified.

The report said there were glaring accounting irregularities on maintenance costs and that incorrect exchange rates had been recorded. It found that SAA group had not established controls to maintain complete records of irregular expenditure and wasteful expenditure.

•Text courtesy of Business Day SA.

 

Source News Express

Posted 14/03/2018 10:19:37 AM

 

 

CLASSIFIED ADS

 

You may also like...
We targeted secondary school girls for marathon sex...

Ifeanyi Uba promises to immortalise Achebe

Smuggled rice not fit for consumption: Customs boss...

Buhari pledges to build resilient Nigerian cities

Anambra State and issues surrounding governance

APGA demands release of IPOB Leader Nnamdi Kanu...

Gowon, Soyinka, Onnoghen make case for recovery of...

FG focused on building modern prisons -- Dambazau...

Food poisoning kills 7 in Zamfara

Kebbi, Sokoto, Zamfara, Katsina and Niger states to...

79,878 candidates jostle for admission into unity colleges...

US Report classifies Nigeria as a corrupt country...

 

Latest News Four pastors jailed in Enugu 77,000 teachers to lose jobs this month — NUT President How we chased marauding herdsmen out of South West — Agbekoya President 16-year old boy arrested for internet fraud in Imo 2023 Presidency divides Northern leaders Security officials move to forestall herdsmen, community clash in Anambra Dokubo-Asari, Kalabari prince tackle Wike over threat to dethrone monarch Pregnant woman, two minors abducted in Kaduna Battle for Ohanaeze leadership hots up as Nwodo’s tenure winds up Open closed borders, Nigerians are starving, Cleric charges FG Kano Govt builds biggest cancer treatment centre in Nigeria Enugu, Port Harcourt DisCos fail NERC’s review, may lose Licences

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (572,517 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (456,901 views) Shameless Genevieve Nnaji exposes breasts in public (406,891 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,701 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,119 views) 10 cars more expensive than Jets (292,636 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,482 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,701 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,119 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,579 views) Lagos plane crash: Journalist releases victims’ names (204,236 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,546 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,623) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (718) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,325) Interview (220) Live Commentary (30) Love Matters (178) Maggie's Blog (520) News (55,247) Opinion (1,440) Pidgin (18) Politics (11,889) Religion (1,133) Sports (2,255) Stock Watch (41) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera