Former SIC MD refuses to hand over, locks up office and bolts with keys

The immediate past Managing Director of SIC Insurance Company Limited, Ms Hollistar Duah-Yentumi, has refused to handover to the newly appointed Acting MD, MJames Agyenim-Boateng, weeks after his appointment by President John Dramani Mahama.

Our checks revealed that the former MD has not only refused to handover but has also locked the offices of the MD of SIC Insurance Company Limited, where the newly appointed MD is suppose to be operating from and bolted with the office keys.

President John Dramani Mahama on Friday, 24th January, 2025 appointed Mr Agyenim-Boateng as the Acting MD of SIC Insurance Company Limited, replacing Ms Duah-Yentumi who was appointed by the erstwhile NPP administration.

Our checks further revealed that on Thursday January 30th, the new acting MD paid an official visit to the headquarters of the Company to introduce himself to the management of SIC but the former MD refused to attend the meeting.

In many institutions, such meetings have been used by both the outgoing and the incoming Chief Executive Officers to effect the transition and ensure a smooth handing over of administration.

But the situation at SIC Insurance Company Limited has been remarkably different as the outgone MD has refused to be part of the transition.

She has also failed to present handing over notes, quite apart from locking up the MD’s offices and keeping the keys to herself.

Some staff of the company have expressed shock over the attitude of the former MD, describing it as a shame.

“We are under the Ministry of Finance and the Minister has officially communicated the appointment of Mr James Agyenim-Boateng as our new MD and I don’t see why the former MD should refused to handover to him. Like our new MD who has been appointed by the current administration, Ms Duah-Yentumi was also appointed by the former NPP government and as there is a change in government everybody here knows that there will be changes in the management of the company so what is she holding on to? It is a shame and she has to immediately handover to him”, an anonymous staff of the Company said.

According to the anonymous staff, the delay in the handing over is having a negative impact on the operations of the company and it is imperative that, she quickly hands over l to Mr Agyemin-Boateng for him to start the implementation of his vision for the state owned insurance company.