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Opposition to ask questions in Parliament over PC bank's irregularities

Published:Thursday | September 10, 2015 | 9:42 PM

The Opposition Jamaica Labour Party says it will table questions in the Parliament next week about the audit which has uncovered major irregularities at the National People’s Co-operative Bank of Jamaica Limited. 

Permanent Secretary in the Ministry of Agriculture Donovan Stanberry yesterday told a parliamentary committee that the audit unearthed information that senior managers were awarding loans to themselves.

He also said some money was unaccounted for, but did not confirm reports that the amount stood at about $600 million. 

The Opposition Spokesman on Agriculture, J.C. Hutchinson, says there are questions to be answered and the Opposition will not wait until the full audit is released. 

 

Opposition Spokesman on Agriculture, JC Hutchinson

A senior manager has been sent on leave arising from the audit, that was done by the Agricultural Credit Board, which has oversight for the PC banks.

Members of the Agricultural Credit Board are to meet next Wednesday with Agriculture Minister Derrick Kellier to review the findings of the audit and a response from the bank.

The PC banks offer loans to micro, small and medium-scale enterprises, including farmers.