We cannot keep violating laws for political expediency – Former SIC shareholder on past MD’s appointment

Former State Insurance Company (SIC) shareholder, Larry Kwesi Jiagge, has reiterated his long-standing opposition to the appointment of Hollistar Duah-Yentumi as Managing Director, citing concerns over her qualifications and regulatory compliance.

Speaking on Joy FM’s Super Morning Show, Jiagge, a lawyer and chartered insurer, revealed that he had contested her appointment on multiple grounds.

“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 stated.

He disclosed that he sold his shares in SIC, worth approximately GHS 200,000, after regulators failed to act on his petition challenging her eligibility under Section 55 of the governing regulations.

“I must specifically say that I sold my shares because the regulator refused to act on the petition I submitted to them,” he added.

Duah-Yentumi was recently dismissed as SIC’s Managing Director, prompting her to file a lawsuit against SIC and her replacement, James Agyenim-Boateng, claiming wrongful termination of her four-year contract, which was set to expire in 2028. However, she has since withdrawn the case.

Jiagge has called for a forensic audit into SIC’s operations, particularly regarding the allocation of business to a specific company, urging the government to ensure accountability.

“We cannot keep violating laws that we create for political expediency. That was my position,” he emphasized.