Fenaka chairman resigns amid corruption scandal
Nadheem cited mismanagement by Fenaka’s staff as well as their refusal to consult the board and follow instructions on procurement of fuel by the president’s office
12 Oct 2016, 9:00 AM
The chairman of Fenaka Corporation has resigned in the wake of a probe into the theft of US$1million from the state-owned utility company.
Mohamed Nadheem cited mismanagement by Fenaka’s staff and their refusal to consult the board and follow instructions on procurement of fuel by the president’s office, according to his resignation letter obtained by the Maldives Independent.
“[T]here are delays in implementing the board’s decisions, resulting in losses to the company and the public. I have found that board’s decisions are flouted in some matters and some decisions are made without the board’s knowledge,” he wrote.
“For instance, the president’s office on January 1, 2016, ordered the company to follow specific rules on procuring diesel, but these instructions were flouted without the board’s knowledge.
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
