NASSAU, BAHAMAS — Opposition Leader Michael Pintard has vowed that the Free National Movement will not relent in its pursuit of answers over the National Investment Fund, as the Public Accounts Committee prepares to question public officials on the matter beginning September 22.
“We will not relent,” Pintard declared in a statement.
Pintard accused the Davis administration of giving contradictory accounts about the NIF, including the amount transferred to it, whether the fund was operational and the legal authority under which transactions were conducted.
“The attempts of the Davis administration this past week to cover its tracks on the National Investment Fund debacle have only served to make Bahamians even more angry and confused,” he said.
Pintard claimed Prime Minister Philip Davis, Minister Michael Halkitis, Attorney General Wayne Munroe and Office of the Prime Minister spokesman Latrae Rahming had contradicted one another while attempting to explain the matter.
He pointed to statements reportedly made by Halkitis in May concerning $700 million transferred to the NIF, contrasting them with Rahming’s recent assertion that no such transfer occurred.
“There was Minister Halkitis who had told Bahamians this past May that $700 million was transferred to this NIF this – only to be shot down publicly by the OPM spokesman this past week when Rahming insisted that no such $700 million had ever been transferred to the Fund,” Pintard said.
He also questioned Halkitis’ statement that the NIF had advanced the completion of critical infrastructure, noting that the Attorney General subsequently stated that the fund had not yet been established and made operational.
“There again was Minister Halkitis this past Wednesday actually commending the NIF for ‘advancing’ the completion of critical infrastructure – only to have the Attorney General tell the country on TV that the NIF hasn’t been set up and made operational yet, clearly refuting the claim of his colleague Minister that the NIF did anything,” Pintard said.
The Opposition leader also claimed that Halkitis had failed to account for approximately $400 million after providing an update on funds assigned to the NIF.
“Our Prime Minister somehow missed the fact that Minister Halkitis missed out $400 million from his update on the $700 million in monies that were supposed allocated to this still not operational NIF,” Pintard said.
He added: “The government’s embarrassing efforts to undo their deception have only made things worse. It only proves that our now more than yearlong efforts to get answers on the NIF were more than warranted.”
Pintard said several critical questions remain unanswered, including the legal authority under which the account was operated and transactions were conducted.
“What was the legal authority for any of this?” he asked. “Making some broad, vague reference to our Finance laws is not enough.”
Pintard alleged that the administration operated an account under the NIF’s name and reported activity by the fund despite knowing that it was not operational.
“This administration operated a so-called NIF account and reported on activities by the Fund knowing full well that the Fund was not operational and did not and could not yet undertake these transactions,” he said.
He also demanded information concerning the account’s legal status, signatories and financial oversight.
“Who was operating this off-book side account under the name of the NIF?” Pintard asked. “This was not a NIF account. So what is the lawful status of this account? Who were the signatories on the account? Where in the budget was these $310 million recorded? Who was checking on the validity of the transactions?”
Pintard further demanded an account of the remaining money from the $700 million he said Halkitis previously claimed had been transferred.
“Where is the other $390 million?” he asked.
He added: “Is it still sitting there while Bahamian vendors and public servants cannot get paid? Was it used for something else? If so, what were those things?”
Pintard said the PAC will begin questioning public officials on September 22 and expects the government to provide the requested information.
“We are grateful that the Minister of Finance has committed the government to full cooperation,” he said. “We will hold them to that, and we expect to get all the information we ask for.”
He also confirmed that the Opposition continues to explore legal action while taking the PAC investigation into consideration.
“As promised, the Opposition is also pursuing the matter through the courts, and we are presently obtaining legal advice on how best to proceed,” Pintard said. “Given the ongoing PAC investigation, we will be guided in our timing of any such action to ensure the integrity of all channels of investigation.”
“We will get the answers that the Bahamian people deserve,” he added.
