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*NSSA Investment Manager Fired For Misconduct* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?nw NSSA has reportedly fired the Authority’s Investment manager Richard Fusire after it emerged that he ill-advised NSSA to invest in $6 million high-risk investment, ZBC News reports. Fusire is also accused of authorising the payment of over US$1,4 million in a housing project in Chinhoyi which is yet to commence up to this day, without following NSSA’s proper investment market analysis. ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- According to the publication: > Fusire who was employed as an investment analyst, acted contrary to the NSSA risk policy and sanctioned investments of US$6 million with the Metbank that did not meet the authority’s criteria because its credit rating was despicable. > The investments into Metbank were against the NSSA risk policy as the authority’s investments committee’s Counter Party Limits Report graded Metbank as a high-risk financial institution and recommended against any future transactions with it due to its failure to meet the credit criteria required by the authority. > Despite the risk, Fusire advised the authority and entered into a loan facility agreement with Metbank resulting in the authority extending the US$6 million to the bank. Fusire was hauled before NSSA’s disciplinary committee which recommended that he be let go after they decided his decisions were detrimental to the organisation. More: ZBC News _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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