STATE TO PAYS NAMBAWAN SUPER K50M FOR OUTSTANDING RENTAL ARREARS

Nambawan Super Limited has received a K50 million payment from the State to settle two years of outstanding rental arrears for several properties occupied by various government agencies.

In a statement, NSL said it has reached an agreement with the State for the remaining K67 million to be repaid within one year through monthly instalments of K10 million through the Department of Treasury.

Under the arrangement, K5 million per month will be allocated to clear arrears from previous years, while the remaining K5 million will cover current rental obligations.

Nambawan Super Limited (NSL) said it remains committed to working collaboratively with the State to ensure all financial obligations are met. However, timely settlement of arrears and consistency in future payments are critical to maintaining the Fund’s income streams and ensuring members receive appropriate returns on their investments.

NSL-owned properties currently occupied by State tenants include Revenue Haus (Internal Revenue Commission), Vulupindi Haus (Department of Education), Eda Tano Haus (Department of Lands and Physical Planning), AOPI Centre (Department of Health and Department of Higher Education), and NSL Haus in Lae (Ombudsman Commission, Independent Consumer and Competition Commission, and Auditor General’s Office).