AFC suspects cover up in NCN probe
…. Calls for full disclosure
The AFC initiated removal of subsidy to NCN has resulted in the disclosure of gross financial irregularities at the State owned National Communications Network. The Party now feels fully vindicated for taking the bold and unprecedented step to cut the allocations for NCN that was presented in the 2012 National Budget. The people of Guyana now see it was the right thing to do.
As a result, of the decision to cut the allocation, we learnt that NCN was raking in more than $500 million from commercial activities, leading President Ramotar to order a probe into the company’s operations.
We have all since learnt that persons at NCN were collecting money on behalf of the company and putting it into their personal bank accounts. This is tantamount to fraudulent conversion. We do not know the full scope and depth of financial impropriety at NCN whether it is confined to the revelation of $3 million from GT & T or whether there is more. We suspect, based on the government’s call for the resignation of the CEO, that there is much more. Continue reading
