SIC-FSL MD Petitions Government Over Board Chairman’s Alleged Interference in Reset Agenda

Information gathered from staff of SIC Financial Services Ltd. (SIC-FSL) indicates rising tensions between the Managing Director, Dr. Sa-ad Iddrisu, and the Board Chairman, Mr. Jonathan Dziasu, culminating in the Managing Director filing a formal petition to government against the Board Chairman.

Origin of the Conflict

The impasse reportedly stems from a recent restructuring exercise initiated by the Managing Director. The exercise involved the reassignment of certain management staff who were appointed by the former Managing Director under the previous NPP administration.

According to staff accounts, while the Managing Director was outside the country, the Board Chairman convened a board meeting in his absence and overturned all the out-of-Accra transfers issued by Dr. Iddrisu. These reversals reinstated the former management personnel aligned with the previous administration.

Staff Reactions and Rising Tensions

Some staff expressed confusion over the Board Chairman’s actions, especially considering that he himself is reported to have been appointed under the current NDC government. They suggest that personal interests may be influencing his decision to restore the former management team.

This situation has now created two competing management structures within SIC-FSL:

The new management team constituted by the Managing Director as part of his reset agenda.

The reinstated former management team, brought back by the Board Chairman’s directive.

Operational Impact and Escalation

The dual leadership structure has severely disrupted the company’s operations, staff say. The internal standoff has reached a point where the Managing Director has petitioned the government, seeking intervention to resolve the crisis.

Internal Communication from the Managing Director

Below is a copy of a memo shared by some staff members, issued by the Managing Director to address the situation: