Latest update December 30th, 2025 12:30 AM
Terrence Campbell resigns from oil fund committee
…cites election as Member of Parliament
(Kaieteur News) – The Natural Resource Fund (NRF) is now missing an added layer of scrutiny, with the resignation of Terrence Campbell from the Investment Committee.
Kaieteur News understands that Campbell tendered his resignation, effective September 16, 2025. The businessman turned politician was appointed to the Committee in August 2022 by President Irfaan Ali, following his nomination by the then Leader of the Opposition, Aubrey Norton.
In his resignation letter addressed to the Finance Minister, Dr. Ashni Singh, Campbell cited his appointment to the National Assembly as his reason for resigning.
Former Member of the NRF Investment Committee, Terrence Campbell
“This decision arises from the fact that Members of Parliament (MPs) are prohibited from serving on the Investment Committee under the provisions governing the Fund. In keeping with that requirement, I hereby relinquish my appointment with effect from September 16, 2025,” he stated.
Further, he expressed gratitude for the opportunity to serve on the committee, adding, “It has been an honour to contribute, however modestly, to the management of Guyana’s natural resource wealth.”
The purpose of Guyana’s Natural Resource Fund is to ensure there is prudent management of the nation’s oil earnings for the present and future benefit of the people by ensuring that volatility in natural resource revenues does not lead to volatile public spending.
The law allows for an Investment Committee to provide advice to the NRF Board on the Fund’s investment mandate. The legislation states that the seven member body should comprise a nominee of the Minister (who shall be Chairperson), a nominee of the minister responsible for petroleum; a nominee of the Attorney General, the Opposition Leader, the private sector and two ex-officio non-voting members including a senior investment advisor and analyst as well as a nominee of the Governor of the Bank.
In a brief interview, Campbell told this newspaper that he has not suggested any suitable replacements. In fact, he explained that this task lies with the Opposition Leader. He explained, “I was an Opposition nominee. The Leader of the Opposition will have to nominate.”
Even though Parliament was convened in November and all 65 Members took the oath of office, the Speaker of the National Assembly, Manzoor Nadir did not call for the election of the Opposition Leader.
Moreover, no timeframe was set for the election to take place. On November 3, 36 MPs from the People’s Progressive Party (PPP) were sworn in, along with 16 from WIN, 12 from the A Partnership for National Unity (APNU) and one from the newly represented Forward Guyana Movement (FGM).
Notably, the 2025 elections was the first time since Guyana gained its Independence that a new party replaced the PPP or APNU as main Opposition. The Leader of the WIN party, Azruddin Mohamed is likely to be appointed Opposition Leader.
He and his father are currently facing extradition proceedings after being indicted by the United States for gold smuggling and a range of other offences.
With silence emanating still from the Chambers, Mohamed through his Lawyer, Siand Dhurjon threatened legal action against Nadir for failing to convene a meeting of the opposition members of parliament for the election of the Leader of the Opposition.
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