Tag Archives: Economic ServicesCommission

AFC says “PPP cabal” controlling NICIL funds

AFC says “PPP cabal” controlling NICIL funds

The Alliance For Change (AFC) has accused the ruling People’s Progressive Party/Civic (PPP/C) of directly controlling some GUY$50B in the coffers of the state holding company NICIL and pledges to soon push for an investigation of the entity’s assets.

This was relayed by AFC chairman Khemraj Ramjattan at a news briefing on Friday who said that they understand that a “cabal” of government officials was in control of NICIL’s purse strings.

“This money, which is being held in NICIL’s account, accrued from the sale of assets that were owned by the people of this country, as a result the money should have been placed in the people’s treasury. Instead the government which authorised NICIL to act as the sale agent has pocketed the money in account under their control.          Continue reading