RDC: MVR 4M left from MVR 90M deposited in November when new management took over

RDC's management during a meeting of the Parliament's Committee on State-Owned Enterprises on August 5, 2024. (Photo/People's Majlis)

Road Development Corporation (RDC)’s Managing Director Brigadier General (Retired) Ali Zuheyru states only MVR 4 million from MVR 90 million that was deposited to the company’s account in early November by the Finance Ministry via bank remained in the account when the new management took over.

RDC’s management was summoned to Parliament’s State-Owned Enterprises (SOE) Committee to be questioned regarding corruption within the company and the measures implemented by the new management to combat corruption.

Speaking at the Committee meeting, Zuheyru said he was made aware that MVR 90 million was deposited to RDC’s account by the Finance Ministry via bank in early November.

“Only MVR 4 million remained in the account when I assumed office. There is no statement related to it,” he stressed.

Members during a convening of Parliament's Committee on State-Owned Enterprises on August 5, 2024. (Photo/People's Majlis)

RDC’s Deputy Managing Director Mohamed Asbaah alleged that the money was deposited for the purpose of disbursing money for certain companies within the system, adding there is no document related to these transfers.

Asbaah further said investigations so far show that a large number of company funds were disbursed to various without supporting documents. In this regard, he detailed that MVR 161 million was disbursed to various parties within the past two years, with approximately MVR 65 million in 2022 and MVR 95 million in 2023.

“We only see bank statements indicating the transfer, via internet banking. The bank slip’s remark for these transactions does not detail why the funds were disbursed either,” he said.

RDC is the target of heavy corruption allegations. Police, on November 15, raided RDC offices and project sites in Male’ City and seized a large number of documents.

Anti-Corruption Commission (ACC) is also presently investigating corruption allegations against the company.

Most of these allegations are centered around former managing director of RDC, Moosa Ali Manik (Mookey).

RDC was incepted during former president Ibrahim Mohamed Solih’s administration.

By Naizak Mohamed

Journalist