Rokel Bank Board members in trouble
Reports coming from the Bank of Sierra Leone have intimated to this medium that Board members of the Rokel Commercial Bank will have to explain how Mr. Victor Cole was given an unsecured loan with their full knowledge and approval.
The reports further state that the Board members will have to explain to the Central Bank on which grounds they were visiting customers to assess their requests for certain facilities before approving them.
The Banking Act clearly spells out the consequences of bad lending and since Board members have taken up this responsibility the erstwhile Managing Director should not go down alone but they must also be made to pay the price as they are equally culpable.
The Board also agreed to the hiring of a Personal Assistant to the Managing Director whose job description has never been made very clear.
There are also questions being asked as to the role of the Deputy Managing Director.
Though the Personal Assistant has retired from the office without any qualification, this medium is bemused that the Board squeezed the Managing Director to employ a Personal Assistant with just a General Certificate Examination Ordinary (GCEO) Level qualification.
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