Tymofiy Mylovanov (photo: Ukraine 30 Forum press service)

President of the Kyiv School of Economics Timofey Milovanov who is a representative of the state in the Supervisory Board of NNEGC "Energoatom", has decided to resign. Milovanov wrote about this on Facebook on the evening of November 11.

According to him, the reason for his resignation was the inaction of the Supervisory Board regarding the criminal proceedings of the National Anti-Corruption Bureau concerning corruption in the company.

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It was Milovanov who initiated of an extraordinary meeting of the Supervisory Board of Energoatom to "ensure an adequate response to the situation around the company."

According to Milovanov, he proposed to make two specific decisions:

  1. Temporarily suspend all officials whose names appear in the investigation materials to ensure the objectivity of the process;
  2. Establish an independent ethics and compliance committee to conduct a full review of procurement procedures, financial transactions, and control systems with the involvement of international experts and a forensic audit.

"I believed and still believe that NABU's statements, journalistic investigations and public attention are sufficient reason for such steps. This is exactly why the Supervisory Board exists: to act when responsibility and common sense are required. There is a decision, but it is formal. Everything has become bureaucratic. We listened to the team saying that everything was fine. We were convinced for hours that there were no threats. This is a deep failure," Milovanov said.

Source: Tymofiy Mylovanov / Facebook

"I demanded results, not explanations of processes. I was told that I was toxic, biased and 'demanding the impossible,'" he added.

"The situation with NABU was supposed to be a wake-up call for the management and supervisory board of Energoatom. The awakening did not happen. Instead, there is a slumber and a hope that somehow it will work out. I am especially annoyed by people who publicly talk about fighting corruption, but at meetings giggle and say that "there is no data to prove corruption," Milovanov summarized.

  • november 10, NABU and SAPO reported about the large-scale operation Midas to expose corruption in the energy sector. According to sources LIGA.net the corruption scheme affected strategic state-owned enterprises, including Energoatom, and caused losses of $100 million.