ACC Orders Fenaka to Retrieve MVR 20 Million Following Corruption Investigations

MV+ News Desk | October 25, 2023
Photo: President’s Office

The Anti-Corruption Commission (ACC) has issued a directive to utility company Fenaka, compelling it to recover MVR 20 million. 

This action follows a preliminary investigation into numerous allegations of corruption surrounding the company, which has been grappling with severe financial difficulties.

In a press release issued yesterday, the ACC disclosed that it had initiated an inquiry into 75 separate allegations of corruption lodged against Fenaka. 

ACC has mandated that Fenaka implement a total of 92 reforms, comprising 48 operational changes, 24 policy revisions, and 6 actions related to the recovery of owed funds. The company has also been instructed to conduct an internal inquiry into 6 specific incidents.

The Commission has additionally conveyed a corruption risk assessment report on Fenaka to the Parliament’s State-Owned Enterprises Committee and relevant government agencies.

The ACC’s scrutiny of Fenaka coincides with parliamentary deliberations on a resolution urging the company to settle outstanding debts owed to Small and Medium-sized enterprises.

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