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Agriculture Minister to meet with credit board over PC bank audit

Published:Wednesday | September 16, 2015 | 9:25 AM
Derrick Kellier

Members of the Agricultural Credit Board are to meet today with Agriculture Minister, Derrick Kellier, to review the findings of an audit of the National People’s Co-operative Bank of Jamaica Limited.

The audit has uncovered major irregularities at the bank.

Permanent Secretary in the Ministry of Agriculture Donovan Stanberry told the Public Accounts and Appropriations Committee last week, that the audit unearthed information that senior managers were awarding loans to themselves.

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

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.

The Opposition Spokesman on Agriculture, J.C. Hutchinson, has called for the disclosure of the audit. 

He says there are questions to be answered.