The heartless guy kept calling the girl who obviously refused to oblige him more so in revenge, he decided to splash her n*de pictureS on the most popular and biggest social media platform saying; since she can't come to him for more, no man will ever take you serious.

Check photos on links below:

Photo 1

Photo 2

Oh for the love of Maury! There’s a new show called “The Test” which features folks who want DNA, lie detector or drug testing.
On a recent episode the show featured a guy named Jay. Jay reportedly has 33 children by 17 different women! Now upon reading this, most women would start questioning how in the world any woman got caught up with this guy in the first place. However, he is not what you think he is going to be.
Take a look at Jay and some of his children’s mothers etc in the video HERE!

Now…let’s go back to what we said earlier about Jay not being what you would expect. He is not the kind of guy who would crip walk on Maury after finding out he was “not the father”. He was almost charming in the video..well before the first mother came out and showed off on him! But we digress.

The point is…he’s not a bad looking guy at all. And if he is in fact as charming as we think he is…and if women didn’t know about all of the kids and all of the kid’s mothers out there floating around…then we can see how he was able to repeat his pattern that many times. An unsuspecting woman wouldn’t have a clue that he had all that baggage…and would probably be flattered if he approached them to go out.

In Syria, a girl was stoned to death for having a Facebook account.

The girl, Fatoum Al-Jassem, was executed by a mob of Islamic extremists after being sentenced to death by a Sharia court.

The Al-Reqqa religious court, under the jurisdiction of the Islamic State of Iraq and Syria (ISIS), ruled that having a Facebook account was “Zina” or immoral behavior, and deserved to be penalized the same way as adultery, Arabic-language media reported.

ISIS is a hardline Islamic group present in Iraq and Syria. The predominantly Sunni jihadist group has been active in the civil war against Syrian President Bashar al-Assad in Syria and government forces in Iraq.

Recently the central leadership of al-Qaeda sharply renounced ties with the extremist Islamic State of Iraq and Syria. ISIS’s savagery and draconian interpretations of Islamic law has alienated many Syrians and drove a wedge between rebel groups.The group’s ideology is based on an extremely strict interpretation of Islam.

This resistance group is generally described as being made up of Sunni Islamist mujahideen. Its goal is to overthrow the Assad government and to create an Pan-Islamic state under Sharia (the moral code and religious law of Islam) and aims to reinstate the Caliphate.

" Betty Thomas ," the first man in the world carries , for a divorce from his wife after he was denied his request state " Arizona " where he judges the state of his marriage gay marriage is not recognized as being a woman before switching to man .

The Betty aged 39 years, was born female and underwent a transformation to a man and struggling now for divorce from his wife " Nancy " was not accepted by judges in Arizona his request, and who considered that in spite of his conversion officially , the marriage is gay marriage is not recognized in the state and therefore can not be resolved .

Said David Carter , Betty lawyer , he would enter on behalf of his client, "battle" , stressing that " Hawaii has recognized marriage " must be allowed to disband .

According to the station , " Kay said X in " American television , was born " Betty " as a girl natural , until he reaches the age of 14 and was named " Tracy " , which entered the Miss Hawaii and went to the finals , but he was at the age of 24 held a lesbian relationship , and in 2002 underwent surgery to switch sex and chest. eradicated and became officially named " Betty Thomas ," but he was keen to preserve the female genitals , and pregnancy and gave birth instead of his wife, who was unable to childbearing after undergoing surgery to remove the uterus.

He was at my house called " pregnant man " , was carrying his child , and became the first man holds the first in the world in general , note that he has sired three times in 2003 , .

Whatever maybe going on between Flavour and Dillish is no more secret since she has openly said she has nothing with her formal man any more

Chinese zoo keepers managed to save the life of a mentally disturbed man after he announced he wanted to improve the lives of caged tigers at a local zoo by offering them his own body to eat.

Yang Jinhai, 27, had posted several online messages about how optimistic he was about starting a new life after getting a job as a security guard in Chengdu in southwest China's Sichuan province.

But he quickly found the job boring and monotonous and moved instead to a job in a printing factory where he also then resigned, saying that he felt there was more to life.

After going to the local zoo he wrote how depressing it was to see the ‘noble and magnificent tigers’ living in such humble surroundings, where they were caged and unable to follow their natural instincts to hunt and kill


He then announced that he had decided to sacrifice himself in order to provide the Bengal tigers with support.

Eyewitness Feng Lin said: ‘He climbed up the outside of the cage and jumped inside expecting, I assume, that the tigers would pounce on him. Instead the two tigers, a male and a female, seemed more nervous than anything else and the female actually ran off.

‘He then tried to antagonise the tigers by pulling faces at them. Eventually he was attacked by the male where he was cut after being scratched and bitten before he could be rescued by zoo keepers who fired a tranquilliser dart at the male tiger.’

They then pulled the man out of the cage.

Yang's family told local media Mr Jinhai had been depressed for a long time and said that he had been taken to a home where he was given psychiatric counselling to cope with his problems.

Source: UK Daily Mail

The on-going government probe into corrupt activities in State enterprises could claim the scalp of some high ranking ministers as new looting details emerge.

This comes as the Daily News on Sunday has established that inquiries into parastatals’ operations had been widened to include current and former ministers, whose footprints were prominently visible in shady deals that are currently subject to investigations.

Justice minister Emmerson Mnangagwa, who is said to lead a faction angling to replace President Robert Mugabe, has already fired warning shots, after declaring in Parliament last week that all individuals implicated in the scandals would be brought to book.

The Zanu PF politburo held on Friday also said those caught with their hands in the till will be arrested.

Sources said ministers benefitted especially in procurement where they either received kickbacks or connived with CEOs to inflate invoices.

Investigations, which are centred on the goings-on at Air Zimbabwe, Zinara, CMED, Rural Electrification Agency (REA), ZBC and Marange Resources among other State enterprises, have seen company executives being fingered in the fleecing of their organisations through hefty salaries and improper procurement procedures.

It has emerged that ministers that presided over these entities will be probed, amid reports they face allegations of dereliction of duty and criminal abuse of office, according to top government
officials.

Some of the ministers personally benefited from the sweetheart perks that were extended to top management at the parastatals.

At the public broadcaster, the Zimbabwe Broadcasting Corporation (ZBC), top managers were splashing $800 000 in salaries per month, while the organisation faced various operational challenges.

ZBC chief executive, Happison Muchechetere was found to have been drawing a monthly salary of $40 000 per month while workers went for more than six months without pay, bringing his total earning to date since 2009 at $2,28 million.

His salary included $3 000 as entertainment allowance, a $2 500 allowance to pay his domestic workers, $3 500 for housing allowance and $3 000 as a general allowance.

Executives at struggling national carrier, Air Zimbabwe, have already been arraigned before the courts after being arrested on fraud charges relating to procurement, maintenance of aircraft and insurance which could have prejudiced it of $1 298 827, 88 and 5 895 695, 90 euros.

Chief executive Innocent Mavhunga, Celebration Church and former airline chief executive Peter Chikumba and company secretary Grace Nyaradzo Pfumbidzayi have been remanded in custody, pending their bail application on Monday.

The rot at Air Zimbabwe has also sucked in Navistar Insurance Brokers and national road agency, Zinara which made questionable payments on the airline’s behalf according to a forensic audit report.

Zinara chief executive, Frank Chitukutuku is currently subject to a Zimbabwe Anti-Corruption Commission investigation over the controversial awarding of a $2 million road rehabilitation tender in Umguza, Matabeleland North province.

The works were awarded to Notify Enterprises, a shelf company owned by Twaumba Holdings owner Nkululeko Sibanda.

According to the Zacc, the tenders were advertised after the contract had already been corruptly awarded to Notify without going to tender.

Medical services provider, Premier Service Medical Aid Society, which services most civil servants, is currently rocked by a crisis after it emerged its top management were gobbling at least $1 million in basic monthly salaries at a time it was reeling under a $38 million debt.

The situation resulted in Psmas chief executive Cuthbert Dube being relieved of his duties following an outrage over his $230 000 monthly salary.

Zimbabwe United Passenger Company (Zupco ) has also had to part ways with its chief executive, Brian Chawasarira after he had been suspended from work pending an investigation into allegations of mismanagement.

Zupco has been struggling to pay its workers, including retrenchment packages for 300 employees it shed in 2011 and has debts to various suppliers including Pioneer Motor Company, which in May attached a Highlands property seeking to recover over $763 000 owed.

The State-owned bus company owes more than $1,7 million in salary arrears and continues to face viability challenges despite having acquired 304 buses over the past three years.

The Rural Electrification Agency, a unit of Zesa Holdings, has also been engulfed in a scandal where its board members and senior management extended themselves loans amounting to $4 million.

Of the funds, $2,5 million was extended to influential persons while nearly $1,5 million was shared among board members, managers and other staff, which they used to build houses at a time the company was failing to carry out its mandate of electrifying rural areas.

However, Vice President Joice Mujuru’s castigation of the media’s role in the exposure of the corrupt activities by government officials, has put a dent on the sincerity of the Zanu PF government to dealing with the cancerous problem.

Leadership integrity and accountability were at the centre of the success of Rhodesia’s import substitution.

The name Rhodesia remains offensive to most of us blacks. It hangs like a nightmare in our brains because of what it stood for and what it did to our fore fathers and those who perished fighting for our freedom. Racism remains an obnoxious and indefensible evil whether it is practiced by whites or blacks.
However, we must move on, and is to our advantage to learn from our past, regardless of the context and objectives of the actors that created it. After all, as Karl Max once noted, men make their own history but they do not make it as they wish, it remains educated by and predisposed to the past; that is one thing we cannot change.
Rhodesia faced serious sanctions but the country rapidly developed notwithstanding. We must learn from that.
I want here to force our minds to appreciate how Ian Smith reacted to those circumstances and why he was successful in developing the productive capacity of a country isolated by the international community, but continued to have a strong currency and was a net exporter of food.
It is an open secret that Zimbabwe has all it needs to develop and yet we continue to complain about how sanctions are preventing that. In my opinion, it is not the issue of sanctions that is our problem (real or imagined); it’s our response to our problems that continues to hold us back and disempower us in coming up with our own solutions.
I think that the main reason why Rhodesia’s self-sufficiency developed rapidly during its import substitution programme was the discipline and integrity of its leadership; racist they were, but here I want us to learn from the enemy.
Ian Smith was not in it for the money or personal wealth. He truly believed in the national cause. Although misguided, he was dedicated to it to the bone. He was not greedy nor did he pursue personal wealth accumulation as is the case with our current political leadership. The preservation and development of Rhodesia came first and all state enterprises and institutions were established and competently managed only to meet that end.
Our first lesson is that; leadership integrity and accountability were at the centre of the success of Rhodesia’s import substitution project. The unfolding revelations of the rot in our state enterprises are shocking, and reflect the value system of our current leadership. Unless we brutally address this, any of our contemplated economic recovery blue prints are a waste of time.
Second, he ensured that no raw material left the country as a matter of policy. Vertical integration of industry was primary at all costs. If no raw materials were to leave the country, it required that the country had to develop the capacity to process them first. This was achieved by investing heavily in infrastructure, especially in the railway network, power and water.
Our lesson here is that we need an informed and holistic strategy on vertical integration of industry that is not implemented ad hoc, but takes into account what needs to be in place first.
In many instances, this government announces good projects without first ensuring that we have the capacity to implement them. It also does not do enough home work to make sure that implementation does not create negative unintended consequences that derail or immunise the intended results. We need to think clearly and anticipate before we act. Inconsistent government policy clouded by hidden vested interests remains our core problem.
The third thing that Smith did was to implement selective subsidies, but these were price subsidies and not input subsidies. In other words, the finished product would be subsidised through its sell price only. This avoided a parallel market for inputs developing. It also avoided profiteering at input level as is the case now, where chefs buy fertiliser in bulk to make profits thereby creating artificial shortages and increasing production costs unnecessarily.
An example was the subsidising of wheat production. Farmers would produce wheat without input subsidies but the price of wheat offered, would compensate the farmer for his full cost of production thus making it viable to produce wheat.
Fourth, Rhodesia had very strict import control measures with strong accountability and fairness. Companies had to have import licences which were managed fairly and with minimum corruption. They had to first prove that they could not source inputs locally and this further encouraged local supply companies to grow. The middleman had no place in that process.
The important thing here was that this policy was only guided by the national priority of producing goods locally. Government officials did not drive imported German or British cars as is the case now. They used locally assembled Peugeot 504’s if you remember, thus creating local demand and jobs.
From this we can learn that we must control the import bill strictly but fairly, we must all live within our means and we must walk our talk.
Fifth, Rhodesia had incentives in place for industry to build local production capacity. For example building a manufacturing plant had huge tax incentives and farmers could write off costs for building dams and thus we could irrigate throughout the year ensuring food security and exports. Incentives and not penalties work more effectively.
Of course Smith had his own currency which remained strong because it was managed prudently. Discipline and national interests were not negotiable; something which we have dismally failed to do.
My contention here is that we can certainly do these things if we wish. Our problem is not the lack of ideas or sanctions; it is because of lack of leadership and self-centred politicians who want the privileges of power without the responsibility that comes with it.
Yes we can rebuild our country, but this requires that we all put our heads together in the national interest. Our leaders must also lead by example.
Zimbabwe comes first!
Vince Musewe is an economist and author based in Harare. You can contact him on vtmusewe@gmail.com

MDC-T national executive member Engineer Elias Mudzuri, who is one of the leading candidates angling for Mr Tsvangirai’s position, has condemned the barbaric attack on Elton Mangoma.
He said no one should seek to be a permanent leader in the party. “Pamusha pako ndopaunoti ndepangu . . . Ini ndaiva organiser asi ndakabva wani . . .,” he said.

“No one has the right to attack anyone, especially one who is disabled, whether it is your opponent or not. If you have a reason you should argue and win it —there is no need to beat each other.” Eng Mudzuri said democrats do not fight each other and such tendencies should be condemned.

MDC vice president Mr Edwin Mushoriwa, who is also a victim of MDC-T violence, said violence was not a new phenomenon in the MDC-T.  He said the major reason why they parted ways with Mr Tsvangirai was the party’s violent nature and failure to observe democratic values.

“There is no difference between what happened to (Elton) Mangoma and what happened in 2005 (when the party split),” he said. “We were not shocked to hear that Mangoma was attacked at Harvest House because that is the nature of Tsvangirai’s party. What shocked us is that at this point there are people who are still using violence as a tool for political control.”

MDC-T losing candidate for Harare South, Mr Jacob Mafume, took to his Facebook wall yesterday to vent his anger on the violent behaviour of his colleagues.

“I condemn in the strongest terms the assault on Elton Mangoma, Tendai Biti and Promise Mkwananzi. It is insulting and nauseating for the spokesperson (Luke Tamborinyoka) to issue a kindergarten statement on the issue.

“The statement is not only self-serving but disgusting. I want to puke. For him to sugar-coat an assault on Mangoma, a national leader, is not only pathetic but tragic. If we can do this to a national leader no wonder we are not getting any nearer to the seat of power.

“If we attack Mangoma in this fashion using a rag tag militia would you blame Zanu-PF and MDC members alike for thinking that if we assume power we would do worse to them?” Mr Mafume said.

A Chinamhora couple connived to kill their one-year-old baby by feeding him with a banana sprinkled with rat killer after establishing that his illness was getting worse last Friday. Mashonaland East acting provincial police spokesperson Assistant Inspector Nobert Muzondo confirmed the incident.

He said they had since arrested Kudzi Jeremiah (26) and his wife Agnes Masunga (17) from Mungate Village under Chief Chinamhora in connection with the murder case. Assistant Inspector Muzondo said police were waiting for the exhumation of the toddler’s body for post-mortem.

It is alleged that on February 12 at around 7am Masunga took the toddler to Makumbe Hospital after realising that he was not feeling well. The toddler was diagnosed with general fever and was given medicine.

It is reported that the toddler’s condition did not improve prompting Jeremiah to buy rat poison at Chirodzero Business Centre which he gave to Masunga on February 14. The two hatched a plan to sprinkle the poison on a banana which they then fed their son.

After eating the poisoned banana the toddler started vomiting, had a running stomach and died.
The following day the toddler was buried. After the burial Masunga allegedly started hearing some voices of a crying baby who was not visible prompting her to confess what had transpired to relatives who had come for the funeral.

On February 15 police in Chinamhora received a tip-off through a phone call about the incident which led to the couple’s arrest. Asst Insp Muzondo appealed to members of public to respect the sanctity of life.

Information Minister Jonathan Moyo has announced a new board for the Zimbabwe Broadcasting Corporation (ZBC). It will be chaired by telecoms entrepreneur Dennis Magaya, who is currently embroiled in the ‘salarygate’ scandal.

Magaya, 44, will lead a ten-member board, some of whom have in the past been involved in nefarious activities and the remainder are strong supporters of the ruling party. The other members of the board are Ndabezinhle Dlodlo, Phyllis Johnson, South Africa-based Zimbabwean broadcast engineer Gelfand Kausiyo and Donald Khumalo.Also on the board are film maker Joyce Jenje-Makwenda, ZANU PF apologist and University of Zimbabwe lecturer Charity Manyeruke, Rudo Mudavanhu, Gibson Munyoro, Cleopatra Matanhire-Mutisi and Blessing Rugara.

Recently the weekly Financial Gazette revealed that in 2012 Magaya was controversially appointed as a strategy consultant to a ZESA subsidiary company. He is earning a monthly salary of $44,000, almost the same amount as the suspended ZBC CEO, Happison Muchechetere. The revelations come at a time when workers at the company are grappling with low salaries.It was reported that Magaya is currently pocketing a monthly salary of over $25,000 plus a bonus of $18,000, which translates into an annual salary of over $500,000.

He is entitled to this package up to August this year, and the salary could be reviewed upwards at this time.Settlement Chikwinya, the MDC-T MP for Mbizo in KweKwe, said the new board contains many individuals with dubious characters. In the case of Gelfand Kausiyo, the MP said he was suspended by the SABC last year, following allegations he used a plagiarised document in a failed bid for Kiss FM for a radio license. Kausiyo worked in SABC’s technical department in South Africa.

Then there is the issue of Cleopatra Shingirai Matanhire-Mutisi, the wife of Brigadier-General Francis Mutisi. She was in the news in late 2012 for allegedly unleashing two soldiers on her 13-year-old nephew, who she accused of stealing $70.She is alleged to have locked the child up for two days without food or water before ordering the two soldiers to assault him. Mutisi allegedly then joined them in the morning to assault the boy before leaving for her rural home.The soldiers then beat the nephew again and he died. Mutisi has appeared in court facing murder charges. In December 2013 she was granted a temporary reprieve, following the State’s failure to furnish her with a trial date.

Settlement Chikwinya, who sits on the Parliamentary Portfolio committee on media, broadcasting and information, described this new board as a unit that will not give advice, but will merely prop up the minister.‘What do you expect from a board full of bootlickers and ZANU PF supporters? This does not augur well with the institution. This is why we saw ZBC failing to live up to competition to the extent that workers went for 7 months without salaries.‘Looking at the other board members, I have no respect at all for Charity Manyeruke, a known ZANU PF supporter and mouthpiece, masquerading as a lecturer at the University of Zimbabwe. She is in the same bracket as Sylvester Nguni and Psychology Mazivisa.

For Moyo to expect policy advice from Manyeruke is like expecting advice from a tout at Mbare Musika,’ the MP said.Chikwinya said he would raise the issue with Moyo in parliament and demand an explanation on why he picked people with little media experience and with serious legal cases hanging over their heads. sw radoo africa

Mr Heath Streak

A lobby group called Zimbabweans Against Sanctions has urged Zimbabweans to unite in opposing illegal sanctions on the country. Former national cricket team captain Mr Heath Streak is the spokesperson for the group. At a media conference in Harare, Zimbabweans Against Sanctions chairman Mr Matthew Smith said sanctions affected every citizen.

“We are forming this lobby group to call for the total and unconditional lifting of all sanctions on Zimbabwe and on its citizens, including the leaders of our country,” he said.

“We are forming this lobby group because we believe that the sanctions imposed on our country by the US, the UK and the EU are gravely hurting our country economically, and consequently gravely hurting its people, including us white Zimbabweans.”

Mr Smith said their official launch would be on March 24, but they wanted to speak out much earlier.
“We are forming this lobby group because the truth about Zimbabwe needs to be heard and for that truth to be heard it needs to be told from our perspective, especially as white Zimbabweans on whose behalf these damaging sanctions were supposedly imposed,” he said.


Mr Smith said the sanctions were not targeted, but were a broad-based financial embargo in their nature and impact. He took a swipe at British Prime Minister David Cameron for threatening not to attend the EU-AU Summit in April because President Mugabe was invited.
Mr Smith said it was also wrong for United States President Barack Obama not to invite President Mugabe to attend the US-Africa Summit.

“If any of the sanctions are maintained, we will all lose; but if all the sanctions are unconditionally lifted, we will all win and a new progressive page will be turned among Zimbabweans and between them and the international community,” he said.

He called on the executive directors of the IMF, World Bank, and the International Bank of Reconstruction and Development to change their policies on the country as they were impeding the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset).

Mr Streak, via video link from South Africa, added: “Sanctions lifting means a brighter future for Zimbabweans future regardless of race, colour or creed. “Let us unify and join hands in this drive for the removal of sanctions by the West.”
Mr Gary Smith, the group’s director, said sanctions were like war and they hurt everyone.

Source: Herald

Zvamaida Murwira Senior Reporter—-
The National Social Security Authority is in the eye of a storm after it lost over US$11,2 million worth of property which was repossessed by local authorities over non-development, prejudicing pensioners’ money in the process. It also emerged that the authority lent US$2,7million in unsecured housing loans to employees while some board members were sitting on about 17 other firms, among other irregularities.

In her report covering 2012, but made available recently, the Comptroller and Auditor General, Ms Mildred Chiri, noted that some executive directors were being paid bonuses bi-annually for representing the authority in organisations where the authority had 10 percent stake, in addition to the normal representation allowances they get monthly.

It was also noted that the authority terminated an incomplete computerisation project on which it had spent US$2,2million citing non-performance by the contractor, thereby sinking pensioners’ money.

Parliament’s Public Accounts portfolio committee is now seized with the matter and has since invited NSSA general manager Mr James Matiza to explain the irregularities next week together with secretary of Public Service, Labour and Social Services, Mr Ngoni Masoka.
Mr Masoka is performing the functions of the board following the expiry of the Innocent Chagonda-led board in August last year.

On board members, Ms Chiri observed that four out of nine board members were sitting on several boards in violation of Corporate Governance Framework for State Enterprises and Parastatal, which forbid one from sitting on more than two boards.
“It was observed that board members were members of other boards and their membership including that of NSSA varied between three to 17. Conflict of interest could arise due to cross directorship and effectiveness of board members may be compromised due to multi-directorships,” she said.

On unsecured housing loans to 35 employees, Ms Chiri said NSSA violated its own policy which stipulated that the authority should keep title deeds until the employee fully paid back the loan.

“Some of the employees who benefitted from this scheme do not have title deeds of the properties as they have been acquired through cessions, which can not be used as security by NSSA. There were instances where employees who owe NSSA unsecured housing loans resign before settlement,” said Ms Chiri.


On the loss of properties to local authorities for failure to develop, Ms Chiri noted that NSSA lost stands in Masvingo, Rusape, Victoria Falls, Mutare and Pumula South with the highest loss registered in Mutare where it lost property worth US$8million at Fernhill and Gimboki.
“When property that has been paid for is repossessed, the authority loses pensioners’ funds through unfulfilled investments,” she said.
“Management should de-recognise these properties from the authorities’ financial statements until they regain title.

On the termination of computerisation system, the authority lost US$2,2million as the project cost US$1million while US$1,2 million was to cover damages awarded by an arbitrator for contractual damages.

“The risk here is that the authority incurs huge financial losses by engaging in unfulfilled projects whose returns will never be realised. Failure to pay meaningful pension payouts to pensioners as a result of these financial losses may expose NSSA to reputational risk,” said Ms Chiri.

On bonuses to executive directors, it was noted that bonus was paid in addition to normal representation monthly allowances.
“During the year under review, they were paid a total of US$59 091.67 which constitutes 100 percent of the board fees generated on behalf of NSSA employees as part of their job. Financial loss through double payment as the authority is paying executive directors sitting allowances while they are executing part of their normal day to day duties,” said Ms Chiri.

Ms Chiri also noted that the Policy and Procedures manual, which was not approved by the board stipulated that the general manager could buy US$500 000 per counter per day with the investment director able to buy US$250 000 per counter per day on the Zimbabwe Stock Exchange.

This, she said translated to US$18,7 million in respect of the investment director per day while for the general manager that would translate to US$37,5 million per day considering that there are 75 listed companies on the ZSE.

“The Policy and Procedure manual is mute on what exact procedures should be followed in cases where an investment has to be made in a private company or other similar unusual investment transactions. The Policy and Procedure manual is silent on the types of financial instruments which the authority can invest in and those that it may not,” she said.

NSSA announced last year that it would write off over US$30 million it invested in Capital Bank, as the bank wound its operations.
NSSA, the 86 percent shareholder in Capital Bank, has also authorised the sale of the bank’s 21 percent stake in First Mutual Life with proceeds being used to partly pay off depositors.

But even writing off US$30 million, the authority said it had accrued more benefits than what it invested through Capital Bank-linked investments.

NSSA is benefiting from the insurance business under First Mutual Life which it acquired through Capital Bank, former Renaissance Merchant Bank, and its subsidiary, Pearl Properties

Source: Herald