fbpx
NSL Chairman Reg Monagi

Written: 26 September 2022

Nambawan Super Limited (NSL) has made a final call on the State to settle its K160 million in rental arrears owed to the Members of Namabwan Super, as it prepares to lock out State tenancies occupying NSL owned properties.

NSL has given notice to all State tenants that it will commence lockouts of their premises from Monday 26 September 2022 but will endeavor to avoid locking out the Department of Health based on humanitarian grounds, recognising the critical nature of the services that it provides.

NSL is aware that the State has allocated K255 million for the reduction of arrears in the Supplementary Budget for this year and now asks that these allocated funds be used to settle their long overdue rental arrears.

We are reluctantly conducting this lock out, especially as the workers impacted by the lockout are our own Members, however we have had to take this action after many broken commitments for settlement of the arrears over several years.

In December last year, the State presented a cheque of K50 million as the first tranche for the agreed payment of the then outstanding K130 million in rental arrears.

It was agreed that the State would later settle the outstanding K80 million owed to the Fund through two further installment payments. These two agreed installment payments were never honoured and as a result the outstanding balance has now grown to K160 million.

NSL owned properties occupied by State tenants include Revenue Haus (Internal Revenue Commission); Vulupindi Haus (Department of Finance and Department of National Planning); Eda Tano Haus (Department of Lands and Physical Planning); AOPI Centre (Department of Health and Department of Higher Education); and NSL Haus in Lae (Ombudsman Commission, Independent Consumer and Competition Commission, and Auditor General’s Office).

Nambawan Super Daru Branch Opening

Nambawan Super Daru Branch Opening

Nambawan Super officially opened its recently relocated Daru Branch yesterday, as part of its continued focus on improving Member access to superannuation services in rural centers around the Country. The Branch was opened by Nambawan Super Member representatives...

2022 a challenging year

2022 a challenging year

Nambawan Super Limited (NSL) continues to look at opportunities to mitigate the adverse effects of a very volatile global economy as some of the Fund’s investments struggle to cope amid the tough economic challenges in 2022. NSL’s Chief Executive Officer, Mr Paul...