Posted: Monday, January 13, 2020. 1:23 pm CST.
By BBN Staff: The Christian Workers Union (CWU) has issued a statement saying that its members at the Social Security Board (SSB) are extremely disturbed after learning last week that the former Chief Executive Officer (CEO) departed with the luxury 2012 Toyota Prado, acquired for over $120,000 and assigned to him during his tenure.
“The SSB Chairman sought to dismiss concerns about the sweet deal by stating the Board was contractually obliged to accept the exiting CEO’s $20,000 offer for the Prado, and in any case, the vehicle had depreciated to a $0.00 value on SSB’s books,” CWU said.
In addition, CWU said that Social Security board staff’s disgust and outrage were not appeased by these justifications, recalling the exiting CEO mantra about “best value for money in managing insured persons’ monies.”
Among other points, they noted the current policy regarding disposing of SSB assets via public auction or tender.
They go on to point out that the Prado only recently was outfitted with a new windshield and new tyres, thus challenging the $0.00 valuation.
SSB under the just-departed CEO aggressively focused on cost-savings in a fashion which negatively impacted Staff.
“That his exit package makes a mockery of those efforts to safeguard the “people’s money” begs the questions, considering the current asset disposal policy, combined with the need to now acquire a new vehicle for a successor: 1. How ethical was this Prado deal? 2. How does this Prado deal not cloud the “accountable and transparent image” SSB had sought mightily to project in recent years? 3. Does this not set an unethical and unsustainable precedent for use of the people’s money?”the statement reiterated.
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