Maisha Bora Sacco dismisses top boss

Maisha Bora Sacco has sacked its general manager for irregularly advancing a Sh30,000 loan to a client. Mr Nicholas Odhiambo’s employment was terminated with effect from May 21 this year. "In line with your terms of employment you will be paid one month’s salary in lieu of notice. The Sacco shall net off your outstanding liabilities when remitting the final payment," read part of the termination of employment letter in our possession. The Standard, however, learnt that a prolonged boardroom tussle might have seen the exit of Odhiambo who has retained his portfolio for three years. Odhiambo claims he was dismissed last month on flimsy grounds and is now seeking Sh39 million in compensation. He said he lost his job due to differences with some members of the board who want preferential treatment in advancement and servicing of loans. "In particular one board member was given a loan of Sh10 million last year, he is behind schedule in payments, has been issuing bouncing cheques and does not want to be taken to task about it," he alleged.