Controversy at NIC: Former Advisor to Lutchmeenaraidoo Appointed

The recent announcement of the appointment of Vivekanand Lochun to the board of the National Insurance Corporation (NIC) has ignited a firestorm of controversy, particularly given his close ties to the former MSM ruling party.

The NIC (ex-BAI), now a government-owned insurance entity, is currently at the centre of a major expropriation court case from its former owner and Chairman Emeritus, Dawood Rawat.

Lochun served in various capacities under the MSM government from 2015 to 2019, including as a senior advisor to Vishnu Lutchmeenaraidoo at both the Ministry of Finance and the Ministry of Foreign Affairs.

His previous roles also include chairing the Sugar Industry Fund Board (SIFB) and being a board member of the State Bank of Mauritius.

His journey raises pressing questions about his proximity to power and the motivations behind his appointment to such a strategic position within a state-owned enterprise.

Despite the swirling controversy, Lochun has vehemently denied any impropriety. He asserts his commitment to the MMM, having stood as a candidate in the 2010 general elections for constituency number 10 (Montagne-Blanche/GRSE).

“Afterward, I encountered some issues with certain colleagues in the party. In 2014, I left and was offered the position of senior advisor,” he told Defi Media.

However, his name also surfaced in connection with the Euroloan scandal, which blasted the reputation of former Finance Minister Vishnu Lutchmeenaraidoo.

The scandal revolved around a loan of €1.1 million obtained from the State Bank of Mauritius at controversial terms (1.5% interest rate and no insurance cover), which Lochun, as a member of the board and the Credit Committee, had approved.

The case went before the then Independent Commission Against Corruption (ICAC) – now FCC (Financial Crimes Commission).

Lochun admitted to having maintained a cordial relationship with Lutchmeenaraidoo, yet claimed they were not acquainted prior to his advisory role.

He also defended himself on conflicts during his tenure at the SIFB, stating: “I wanted to ensure the interests of small planters were protected. Again, they tried to place blame on me.”

In December 2018, he was dismissed from the board.

Following Lutchmeenaraidoo’s suspicious resignation in 2019, Lochun collaborated with Nando Bodha at the Ministry of Foreign Affairs before exiting the government in June 2019.

“I returned to the fold of the MMM, and I have remained there,” he asserted.

As of now, Lochun’s recent appointment to the NIC has yet to be officially confirmed.

Source: Defi Media