Oct 15, 2021 News
– Says charges to follow soon against ex-Finance Minister
Kaieteur News – Attorney General and Minister of Legal Affairs, Anil Nandlall, disclosed yesterday that an investigation will be launched into the controversial US$18M signing bonus that the previous Coalition administration received from ExxonMobil back in 2016 and placed into a special account at the Bank of Guyana.
In a video posted on one of the social media pages of the People’s Progressive Party/ Civic Government, Nandlall noted that the role of the former Finance Minister, Winston Jordan, would be examined, since he had denied that the Coalition ever received the money. It was only after same was exposed in the media that the former Minister eventually admitted to its receipt and existence. Nandlall disclosed that the files regarding the case will be handed over to the Guyana Police Force with charges against Jordan likely to follow soon.
Following this announcement by the Legal Affairs Minister, Jordan issued a statement to the effect that any insinuation that he was involved in any nefarious transaction concerning the signing bonus is utterly untrue.
The former Finance Minister said, “These allegations are false, baseless and repugnant. As on a previous occasion, circa November 2020, I say without fear that they are designed to impugn my character, tarnish my image and lower my esteem in the eyes of my family, friends, admirers, well-wishers and the general public. Moreover, they are intended to intimidate me, in light of my scathing criticism of the government’s approach to development of my beloved country. I cannot and will not be intimidated.”
Jordan categorically stated that during his time as Finance Minister, he performed his duties in compliance with the oath of his office and to the best of his abilities. “This I have done in my over 35 years of public service, in various capacities. I have consulted with my lawyers on this latest attempt to malign me in public, and we have agreed on a certain course of action. Aluta continua!” concluded the economist in his statement to the media.In December 2020, Kaieteur News reported that every cent of the US$18M signing bonus Guyana received when it penned the 2016 agreement with petro giant, ExxonMobil, was spent by the A Partnership For National Unity+ Alliance For Change (APNU+AFC) regime.The Auditor General (AG), Deodat Sharma, made this disclosure in his 2019 report. In that document, he stated that the US$18M Guyana received was deposited into the Finance Ministry’s ExxonMobil Account №. 845L5086, at the Bank of Guyana.
The Bank, he explained, maintained a “Cash and Investment Accounts,” to independently account for earnings accumulated from investments. The report outlined that during November 9-17, 2016, the sum of US$15.831 million was transferred to that very account and later expended to purchase overseas bonds.
The balance of US$2.176 million or G$449 million remained in the country’s Investment Account.
Later on, the report said, Guyana earned interest of US$498,775 from its investments between November 9, 2016 to December 31, 2018, while the interest from the Investment Account totaled US$2,889.
On December 28, 2018, the Finance Ministry was said to have instructed the Bank to transfer US$3.780 million from the Investment Account to Guyana’s Consolidated Fund. This was done on December 31, 2018, leaving a balance of US$112,480 in the account.
The Auditor General noted too that in January 2019, the value of the investments appreciated to US$14.545 million, while the interest earned on the Investment Account rose to US$42,378. He pointed out that the Ministry then instructed the Bank in January of 2019 to close the ExxonMobil Account №. 845L5086 and transfer all balances to the Consolidated Fund.
“In keeping with the directive of the Ministry, an amount of G$3.065 billion or US$14.699 million was transferred to the Fund on January 24, 2019,” the AG highlighted, noting that a final transfer of G$104,867 or US$502.96 was made on February 14, 2019 “resulting in nil balances in the account.”
The Bank then closed the accounts in February 2019.
That transfer occurred before the High Court had ruled that the December 21, 2018 No-Confidence Motion was validly passed.
It was only after intense pressure from the media, that the Coalition Government headed by former President Granger revealed that it had, indeed, received the signing bonus from ExxonMobil at the time of inking the 2016 Stabroek Block Production Sharing Agreement (PSA).
Before that there was silence.
Dec 07, 2021Kaieteur News – The management of Tony’s Jewellery Establishment of 1st Street Alexander Village has decided to post an expensive reward for the Most Valuable Player (MVP) in the male...
Dec 07, 2021
Dec 07, 2021
Dec 07, 2021
Dec 07, 2021
Dec 07, 2021
Kaieteur News – Here are the words of Rickford Burke in reaction to police bulletins for him over calls to use violence... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]