Remaining BCL employees rescue Nico
Friday, May 12, 2017
Nico
Nico plunged into financial turmoil last year when BCL Mine was placed under provisional liquidation, which saw the club fail to shell players’ dues.
The team’s wage bill stands at P80,000 per month and the club has gone for four months without paying its players and has also been defaulting on utility bills. Their transport is no longer free as it used to be under BCL because now the liquidator has to protect the creditors’ assets.
That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...