The National Pension Scheme Authority has suspended five of its Directors for attempting to purchase parts of the ‘Baobab’ land along Kafue road.
In a statement,NAPSA Director General Yollard Kachinda says the authority has asked the five Directors to step aside in the interim to allow for investigations to ascertain if the Authority’s code of ethics were not breached.
Mr. Kachinda says the authority received a proposal to purchase Baobab land from a registered owner but in 2018 the Board of Directors declined to proceed with the transaction citing a pending court action.
Recently, five NAPSA directors were offered to buy pieces of the stated land, but the matter ended up with the police who are investigating the transaction as a private matter involving the directors in their individual capacities.
Mr.Kachinda explained that the five directors have been asked to step down in the spirit of transparency and accountability.