Protest and Condemnation of Misinformation Involving Nagad’s Administrator
Collected Photo
Recently, a group has been spreading various forms of misinformation on social media regarding several issues related to mobile financial service provider Nagad. In this process, false and fabricated information is being used to create misleading narratives involving Nagad Administrator Md. Motasim Billah. Nagad authorities have taken notice of the matter and strongly condemn and protest this conspiracy.
By spreading such misinformation on social media, an attempt is being made by certain vested interests to damage Nagad’s reputation for ulterior motives.
This information was disclosed through a press release issued by Nagad.
Allegation Regarding Administrators Receiving Salaries from Nagad
Misinformation is being spread claiming that the administrator receives Tk 900,000 per month and associate administrators receive Tk 500,000 each per month as salaries. The actual fact is that Nagad’s former Chief Executive Officer used to receive a basic monthly salary of Tk 900,000 excluding allowances and benefits, which is now falsely being portrayed as the administrator’s salary.
The administrator and associate administrators do not receive any salary from Nagad. They receive salaries from their respective institutions—Bangladesh Bank and the Postal Department. Images circulated on social media regarding this matter are false and fabricated by conspirators.
All relevant information can be verified through Nagad employees’ monthly payroll records, and Nagad authorities are prepared to fully cooperate in this regard.
Furthermore, after joining Nagad in August 2024, the administrator did not receive any monthly allowance from Nagad until September 2025. However, beginning in February 2025, the administrator team received special allowances from Bangladesh Bank. Later, on the condition that they would no longer accept those allowances from Bangladesh Bank, Nagad’s board approved a monthly special allowance of Tk 250,000 for the administrator and Tk 200,000 for associate administrators from October 2025 onward.
It is noteworthy that when the administrator team was withdrawn from Nagad in May 2025 following a court order, similar misinformation regarding salary payments from Nagad had also been circulated, prompting Nagad to issue a protest statement at that time.
Use of Nagad Vehicles
Another allegation claims that Administrator Md. Motasim Billah took two Toyota Land Cruiser Prado vehicles from Nagad. The reality is that, for official duties, the administrator uses only one of the three Toyota Land Cruiser Prado vehicles that had long existed in Nagad’s transport pool. The other two vehicles are used by other Nagad officials for official purposes.
No new vehicles were purchased after the administrator took office, and he has never used two vehicles simultaneously.
Conveyance Allowance
Following the government change on August 5, many large corporate institutions suspended business dealings with Nagad, causing transactions to decline rapidly. To rebuild trust and restart transactions, senior Nagad officials and members of the administrator team from Bangladesh Bank and the Postal Department held meetings with corporate institutions outside office hours.
Where official Nagad vehicles could not be allocated for transportation, conveyance expenses were provided in accordance with management board-approved policy. No rules were violated in this regard.
Honorarium for Board Members
Members of the Management Board receive a monthly honorarium of Tk 50,000, as determined by Bangladesh Bank. In addition, they receive Tk 10,000 per board meeting attended.
Since the Management Board’s appointment, no more than one board meeting per month has been held. These honorariums are paid according to Bangladesh Bank’s regulations for Management Board appointments. Similarly, independent directors appointed at banks and financial institutions receive comparable honorariums.
No irregularities have occurred in this matter.
Honorarium for Recruitment Interviews
According to Nagad’s board-approved policy, members of recruitment interview boards receive honorariums for conducting interviews. Both internal and external members of Nagad receive such payments.
If any member of the administrator team participates in an interview board, they may receive the same honorarium as other board members. No rules were violated here either.
Allegation Regarding Celebration of the Administrator’s Birthday at Boat Club
Misinformation claims that the administrator’s birthday was celebrated at a boat club using Nagad’s funds. According to Nagad, this claim is completely false.
The truth is that officials from different levels of Nagad held a gathering at the boat club, and the administrator personally paid the bill. Nagad had no financial involvement in the event.
It is also noted that in May 2026, Nagad recorded its highest-ever transaction volume of Tk 44,639 crore. To celebrate this milestone, the administrator cut a cake with senior officials, and photos of the event were published in national newspapers. A group allegedly used those images with malicious intent to tarnish the administrator’s reputation.
Allegation Regarding Personal Expenses
It is being falsely claimed that the administrator received salary payments for his housekeeper and covered personal vehicle fuel and maintenance costs through Nagad.
Nagad states that these allegations are entirely false. According to Bangladesh Bank regulations, executive director-level officials are entitled to such benefits, similar to other government officials of the same grade.
As Md. Motasim Billah is an Executive Director of Bangladesh Bank, he applied to Bangladesh Bank for these entitlements, and the central bank provides the approved benefits monthly. Nagad has no financial involvement in this matter.
However, photos of two letters sent by the administrator to Bangladesh Bank have allegedly been used unlawfully to spread misleading claims that Nagad paid for these personal expenses.
Personal Security Guard Allegation
The matter of the administrator having a personal gunman or bodyguard has also allegedly been distorted.
Nagad stated that a former administrator, Muhammad Badiuzzaman Didar, was attacked while serving in an administrative role at Nagad. Additionally, the administrator team reportedly received threats to step down through various channels.
In this context, a gunman was appointed for the administrator’s security following instructions from Bangladesh Bank.
Nagad authorities firmly reiterate that the administrator has not received any irregular financial or non-financial benefits from Nagad. Nagad welcomes any inquiry from individuals or institutions regarding the matter and is prepared to provide full cooperation.
