Nagad denies allegations against administrator, claims smear campaign

Mobile financial service provider Nagad has rejected a
series of allegations circulating on social media against its Bangladesh
Bank-appointed administrator, Md Motasem Billah, describing them as false,
fabricated and part of a coordinated campaign to damage the organisation's
reputation.
In a statement issued today (6
June), Nagad alleged that a vested group was spreading misinformation about the
administrator and the management team through social media to serve its own
interests.
The company said one of the claims
being circulated was that the administrator receives a monthly salary of Tk9
lakh and assistant administrators receive Tk5 lakh each from Nagad.
According to the statement, the administrator and assistant
administrators draw their salaries from their respective institutions –
Bangladesh Bank and the Postal Department – and do not receive salaries from
Nagad.
Nagad also denied allegations that
Motasem had taken two Toyota Land Cruiser Prado vehicles from the company.
It said the administrator uses only
one vehicle from Nagad's existing transport pool for official duties, while the
remaining vehicles are used by other officials.
No new vehicle has been purchased
since he assumed responsibility, the statement added.
Responding to claims regarding
travel allowances, Nagad said members of the administrator team and senior
officials regularly attended meetings with corporate clients as part of efforts
to restore business confidence and revive transactions.
In cases where official vehicles
were unavailable, conveyance allowances were provided in line with approved
company policies, it said.
The company also addressed
allegations concerning payments to members of its management board.
According to the statement, board
members receive a monthly honorarium of Tk50,000 and Tk10,000 for attending
each board meeting, as determined by Bangladesh Bank.
It added that no more than one
board meeting has been held in any month since the board's appointment.
Nagad further said honoraria paid
to members of recruitment interview boards were made under approved policies
and applied equally to both internal and external participants.
The statement also rejected
allegations that the administrator's birthday had been celebrated at the Boat
Club using company funds.
Nagad said the event in question
was a gathering of company officials and that all expenses were borne
personally by the administrator.
Addressing claims that Nagad paid
for the administrator's personal expenses, including household staff and
vehicle-related costs, the company said these benefits are provided by
Bangladesh Bank under rules applicable to executive director-level officials and
involve no financial contribution from Nagad.
The company also denied allegations
regarding the appointment of a personal bodyguard for the administrator.
It said security measures were
taken following threats against members of the administrator team and in
accordance with directives from Bangladesh Bank.
Nagad said the administrator had
not received any irregular financial or non-financial benefits from the company
and reiterated its willingness to cooperate with any inquiry by individuals or
institutions regarding the allegations.
The company claimed the allegations
were being spread to undermine its recent performance, noting that it recorded
transactions worth Tk44,639 crore in May, the highest monthly volume in its
history.
















