Namcor alleges blatant fraud in the acquisition of military fuel storage facility

Niël Terblanché Immanuel Mulunga, the suspended Managing Director of Namcor, along with several other individuals, is facing legal action that could cost them over N$53 million in restitution to the National Petroleum Corporation of Namibia (Namcor). The state-owned entity while filing particulars of a claim at the Namibian High Court has made serious allegations of fraud during the acquisition of a military fuel storage facility in Walvis Bay. The claim asserts that Mulunga and nine other defendants are responsible for a transaction that was concluded in breach of government control structures, resulting in significant financial losses to Namcor. Namcor’s decision…