Departmental investigation against Kafco CFO

Published : 26 Sep 2021 09:45 PM | Updated : 04 Oct 2021 04:43 PM

The Ministry of Industries has decided to launch a departmental inquiry against Habib UllahManju, Chief Financial Officer (CFO) of Karnafuli Fertilizer Company Limited (Kafco), one of the largest fertilizer factories in the country, on the basis of allegations of financial and moral irregularities.

Manju is accused of taking commissions from the company's insurance and bank deposits, taking commissions on the purchase of UF-85 chemicals from Egypt, Oman and Saudi Arabia, illegally handing over jetty repairs to a Singapore company and smuggling part of the company's profits to a ring.

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 After the matter came to the media, the decision of the departmental investigation of the ministry came.

 However, Habib UllahManju said, "Someone may be spreading propaganda against me due to personal enmity.  I can prove that these allegations are false.” Kafco officials say the truth will come out through an investigation.