NICIL is a rogue company…Wonders at identity of mystery investor - says David Granger

NICIL is a rogue company…Wonders at identity of mystery investor – says David Granger

Sep 21, 2013 News

“NICIL is a rogue company. We cannot tolerate this sort of behavior in which government funds, state funds, the people’s money, are being disbursed without accountability,” said Opposition Leader, Brig. David Granger.

NICIL Chairman, Winston Brassington

He remained adamant yesterday that the National Industrial and Commercial Investment Limited (NICIL) has to be stopped short in its tracks.
The Opposition Leader was at the time speaking on recent disclosures surrounding one of Guyana’s controversial projects—the Marriott Hotel. Granger’s specific reference was to the fact that no investor has been named as yet and that NICIL is acting completely out of its league in “this entire Marriott deal.”
Granger said, “We have held out, from the outset that NICIL has not the authority to disburse funds which belong to the Guyanese Nation; except through the contingency fund.”
Granger sought to explain that NICIL is not an independent entity. “It belongs to the state.” He said that as far as the A Partnership for National Unity (APNU) is concerned, no organization or part of the state should be able to disburse millions of dollars or enter into “these” agreements without permission from the National Assembly.
Granger insisted that when the National Assembly reconvenes, APNU is going to work assiduously to ensure that NICIL’s “operation” is brought within the purview of the Assembly.
“We are talking about funds that belong to Guyanese. What if the money is lost or what if it’s all a scam? We don’t know.”
Granger said, “We don’t know who this mystery investor is. Is it Mr. Jagdeo? Is it somebody from Alaska? We don’t know; we just don’t know and it’s the state money you talking about.
The politician added, “We are going to take a firm line on this matter. And as we did in the Amaila Falls Hydro Project, which is also something that Mr. (Winston) Brassington is involved in, we are going to insist that this matter be brought to the floor of the National Assembly and the decisions will be recorded there.

Opposition Leader, David Granger

Mr. Brassington, I don’t know what he is on. But we are on ensuring that these actions take place within a legislative framework and the representatives of the people in the National Assembly will deliberate on it.”
NICIL is the company initially responsible for the Marriott Project. It’s Chairperson, Winston Brassington, has set up Atlantic Hotel Inc (AHI), as a Special Purpose Vehicle to drive the project. Brassington is also Chairman of AHI. During a recent press conference, he noted that Financial Closure had not been reached.
No investor was named at that press conference and Brassington skirted questions pertaining to what is the alternative should there be no financial closure.

Former President, Bharrat Jagdeo

4 thoughts on “NICIL is a rogue company…Wonders at identity of mystery investor – says David Granger”

Ashley Singh September 21, 2013 at 8:19 am

I totally endorse the statement made by Mr. Granger that “NICIL is a rogue company” For too long no one seems interested to make tangible criticisms. For too long the treasury was permitted to be plundered by persons in authority. There should be intensive investigations into all dealings by independent sources. However this may never, ever be permitted by Mr. Ramotar.
1. wtf2011 September 21, 2013 at 3:30 pm
  
  We need the General Assembly to step up & whistleblower(s) from the AUDITOR GENERAL’s Office too as they have the REPORTS on N.iC.i.L!
Cockspur September 21, 2013 at 11:52 am

This is an excellent statement by Mr. Granger. Sir you are now showing your true leadership skills.

Please also send the executives of Republic Bank a strong message that their collusion with the PPP crooks will not be tolerated.
wtf2011 September 21, 2013 at 3:25 pm

1. Who is releasing the Public’s money to N.i.C.i.L…is it a single person & PPP affiliated?
2. is the Auditor General a single person or an office with 1 person? & is it staffed by Accountants?
3. & is this A.G. person affiliated with the PPP? as this office is supposed to catch FRAUD!
4. The Public Accounts Committee…is it staffed by Accountants?
5. Why are Auditors Outraged that other Auditors want to peer check their work? as auditors r human & make MISTAKES!
6. Why are reports on the PUBLIC funded N.i.C.i.L being kept from Parliament & independent AUDITORS under the guise of PRIVACY/confidentiality?