A former shareholder of the State Insurance Company (SIC), Larry Kwesi Jiagge, has revealed that he was against the appointment of Hollistar Duah-Yentumi as the company’s Managing Director from the outset.
Speaking on Joy FM’s Super Morning Show, Jiagge, a lawyer and chartered insurer, stated that he challenged her appointment on multiple grounds, including concerns over her qualifications.
“As a person, I have always contested her appointment, first as a Ghanaian, secondly as somebody informed about the provisions of her job, and thirdly as a shareholder,” he said.
He disclosed that he sold his shares in SIC, worth approximately GHS 200,000, after the regulator failed to act on a petition he submitted challenging her eligibility for the role.
“I must specifically say that I sold my shares because the regulator refused to act on the petition I submitted to them,” he added.
Jiagge cited Section 55 of the relevant regulations, arguing that Duah-Yentumi did not meet the necessary qualifications for the position.
“We cannot keep violating laws that we create for political expediency. That was my position,” he stressed.
Meanwhile, Duah-Yentumi, who was recently dismissed, had filed a lawsuit challenging her removal and the appointment of James Agyenim-Boateng as the new Acting Managing Director. However, she has since withdrawn the case.
Jiagge has called for a forensic audit of SIC, particularly regarding the allocation of business to a specific company.
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