THE National Pension Scheme Authority (NAPSA) has asked five directors to step aside so that it can thoroughly investigate why they allegedly attempted to buy Baobab land which the company was earlier offered by a registered owner.

According to NAPSA director general Yollard Kachinda, the company was offered to buy the land but it was advised by its board against proceeding with the transaction because there was a pending court action.

Mr Kachinda said in a statement yesterday that the five directors have been asked to step aside so that the company can investigate the matter and ascertain if its code of ethics was not breached. He said NAPSA received a proposal to buy land at Baobab on Kafue road from a registered owner last year, which the board advised against.

“This proposal was presented to the board for consideration in line with our investment guidelines. The board in November 2018 guided against proceeding with the transaction citing a pending court action. “With that guidance, NAPSA did not proceed with the transaction,” Mr Kachinda said. He could, however, not disclose the names of the five directors who have been suspended. Minister of Labour and Social Security Joyce Simukoko also confirmed the suspension of the five directors.

Mrs Simukoko could not give more information on the matter because she is waiting for a full report from NAPSA. “I think I am likely to get the full report by tomorrow [today], then I will be able to share the details with you,” she said. The affected directors have allegedly been swindled out of K600,000 by Marshal Chambers under the pretext that the law firm was selling land when in fact not.

Police spokesperson Esther Katongo said in a statement on Friday that between July 16 and 23 this year, the directors received information that there was land for sale at Baobab. The transaction was being spearheaded by a law firm headed by Germano Kaulungombe. The law firm is alleged to have asked the directors to make down payments of K100,000 each, and four of them paid the same amounts except for one who paid K200,000 for two plots.

Ms Katongo said further investigations established that the controversial land belonged to Nyimba Investments and was not being sold. She said police arrested Mr Kaulungombe, Stanley Tembo and Leonard Nyoni, and jointly charged them with one count of forcible detainer, and five counts of obtaining money by false pretences. The suspects were released on police bond.