BB appoints new administrator for Nagad

The Bangladesh Bank (BB) today appointed a new administrator for Nagad, a mobile financial service provider mired in scandal, following the resignation of the previous administrator, Muhammad Badiuzzaman Dider.

Dider was appointed as Nagad's administrator on August 21 last year amid allegations of irregularities in its operations.

He resigned after being injured by an attack by unidentified miscreants on February 12. The attackers also vandalised his vehicle with hammers, causing injuries to his chauffeur.

Motasem Billah, who previously served as director of the Bangladesh Bank's Chattogram office, will be the new administrator of the mobile financial services provider, according to an order issued by the central bank.

On the day Dider came under attack, a team from the Anti-Corruption Commission conducted a drive at Nagad's office.

On February 3, the central bank filed a case against Nagad, alleging fraud, embezzlement, and financial irregularities amounting to Tk 645 crore.

The lawsuit named 24 individuals, including 16 officials of Nagad Ltd and eight officials of the Directorate of Posts.

In the notice yesterday, the BB said it attached Dider with its human resource department, relieving him of his position as administrator of Nagad.