Barbados Underground has been exhaustive in its prosecution of the mismanagement of the National Insurance Scheme (NIS). Government after government has mismanaged the Scheme. The issues range from faulty governance practices, late production and availability of actuarial reports, updated certified audited financial statements, appointment of incompetent individuals to the board, questionable IT decisions, questionable investment decisions…
As usual, taxpayers are left holding the ‘bag’.
The raging COVID19 pandemic has exposed the vulnerability of the NIS which has come has no surprise to some members of the BU family. To be expected the partisan political players will seize the opportunity to criticize to feed a rabid political appetite. The time has come however to have a mature discussion about the state of the NIS and what measures are urgently needed to protect the fund.
Is it possible for Barbadians to understand the importance of a dispassionate debate about the NIS?
Is it possible for politicians to understand the time has come to address structural deficiencies how the NIS is being managed?
Chairman of the fund Leslie Haynes declared this week the NIS Board has submitted a paper to Cabinet to approve the transition to a Statutory Board. Elsewhere in the press Leader of the Opposition Joseph Atherley has questioned how the NIS and Central Bank of Barbados are being managed.
- Atherley questions NIS fund’s use for jobless claims, governance
- NIB Seeking To Transition To A Statutory Entity
Discussed for 100 marks
“The problem is locating the the sources of the mismanagement. I think you have given enough pointers”
Since you can identify the pointers, what/where are the source(s)?
After such a long period of unaudited activity the confirming of the assets is a priority. If as Hal and others have said maybe we need a new plan. Point is to start a new plan we still need to confirm the assets for a starting point of the old plan
The good news is some people with long memories are giving corbin the racist licks on FB…real licks, don’t know who started them up again, but he better leave the island cause they are planning to starve the retard out….🤣🤣 am sure he can get work cleaning pig pens in Australia..
Between Atherley, Prescod and the useless lawmakers Barbados got, i don’t know who is worse, that shite about a new marijuana law re fine for a tiny amount like they’re doing someone a favor when no other country is doing that, is not even worth talking about, best case scenario, is THROW ALL OF THEM OUT OF THE PARLIAMENT COME 2023….no one except for fowl Slaves will miss them.
..i have never come across such a bunch of ineffectual, self-hating nonprogressive negros, won’t want any of them near me…they carry way too much hatred for Black people…..they are a disgrace to Black/African people everywhere…they can’t blame anyone for the repulsive way they are…..and everyone has to know about them and their sickening attitudes toward their own people…
but they are pedigree so….
I got it from reliable resources that those reckless lawyers and judges got personal injury cases in the Supreme COurt longer than THIRTY YEARS…yes, that’s right 30, even when liability has been established, so it’s DEFINITELY the cruel lawyers and judges colluding to do this….hand and hand with the insurance companies, THAT’S A RACKET….racketeering.
This root of all our financial problem.
We are tied to the Western Fnancial System which is the greatest ponzi scheme
So hear how this is going to work out, since you MFs are so BRAZEN and DETERMINED that Black people will get NO JUSTICE at that stinking corrupt supreme court…ya will continue your shite, with the young, middled aged ELDERLY not getting any compensation for over 30 YEARS because judges and lawyers are RACKETEERING with insurance companies…
you have 60 YEARS and OLDER CAN’T MOVE FORWARD…because you dirty, SELLOUT NIGAS are WAITING FOR THEM TO DIE…as a judge put it to AN ELDERLY CLAIMAINT, it’s better if the injured DIES that way the insurance companies will PAY LESS, and we know that means….PAY NOTHING AT ALL….because of course the BITCH WORKS FOR THE INSURANCE COMPANIES and NOT FOR TAXPAYERS….WHO PAY THEM A MONTHLY SALARY…
so a 60-70 year old claimaint today 20 years from not will be in their 80s or 90s if they live, yall nasty fcukers will also be OLD OR DEAD…but that doesn’t matter because the stinking CABAL in the Bar Association will just CONTINUE BUSINESS AS USUAL AFTER THE FUNERAL…as that dirty type above is known to do.
….so since yall got it all figured out…..please continue and the WHOLE WORLD will GET A STEP-BY-STEP…live PLAY-BY-PLAY…about how ya go about ya RACKETEERING to DESTROY BLACK LIVES……YES, the whole world…..everyone will know who you NASTY EVIL NIGAS ARE….yall picked A WINNER THIS TIME..
watch muh nuh.
And the difficult part about this, people who know these savage judges and lawyers PERSONALLY….says straight up…THAT NONE OF THEM CARES….
yep…YALL PICKED A REAL WINNER…who don’t GIVE ONE FCUK EITHER…..so goodluck..ya will need it..
Am not expecting anyone to answer, but would sure love to know how JUDGES…who are:
paid a monthly salary of between 10-12,000 dollars BY TAXPAYERS…
have a MERCEDES CAR with DRIVER at TAXPAYER’S EXPENSE…
allegedly ALSO get A HOUSING ALLOWANCE….PAID BY TAXPAYERS
and am sure many other PERKS at TAXPAYERS EXPENSE….one day ups and decides that they are AUTONOMOUS…where the hell did that come from, YOU WORK FOR TAXPAYERS as a PUBLIC SERVANT, says so right in the CONSTITUTION….it mentions nothing about judges being autonomous and the little act that got ya thinking ya are SHOUILD BE REMOVED…….you get PAID MONTHLY…where is the AUTONOMY IN THAT….wuh since ya so autonomous you should NOT be working in a taxpayer funded building and ya sure as hell don’t need a salary…by taxpayers either…
i swear something is VERY WRONG WITH THIS PICTURE.
The NIS reminds me of Bernie Madoff.
The place is infested with thieves, best to bypass the island.
“Guilty as charged
FORMER BANKER ADMITS TO THEFT OF MORE THAN QUARTER-MILLION DOLLARS FROM CUSTOMER’S ACCOUNT
A former bank employee has admitted to embezzling $290,000 from a customer’s account and using the funds to pay off his jeep, his debts and that of the mother of his child as well as partying among other things.
Kevin Dacosta Cadogan, of Arthur’s Seat, St Thomas today pleaded guilty before Madam Justice Laurie-Ann Smith-Bovell to stealing BDS$290 000 from a Bank of Nova Scotia draft payable to RBTT Bank belonging to the Bank of Novia Scotia. The incident occurred on August 12, 2011.
He also admitted that sometime between August 1and October 31, 2011 he also stole $22 960 belonging to the Bank of Nova Scotia and engaged in money laundering by directly engaging in transactions totaling $312 960 being the proceeds of crime. Cadogan was 22 years old at the time and he worked at the Bank of Nova Scotia Wildey branch.
Deputy Director of Public Prosecution Alliston Seale said the account from which the money was stolen belonged to a nurse who had worked in the U.K and U.S before retiring to Barbados.
The account holder had a pension of over US$3 000 dollars coming to her account. At the time activity on the account was limited to the deposits of her US pension and it was the lack of withdrawal activity that led to her account being targeted by Cadogan.
The account holder was not in the habit of going to the bank but on one occasion when she did, she noticed that her account balance was about $28. She spoke to the management of the bank about the irregularity and an internal investigation began which showed that Cadogan dealt with the account. He resigned soon after saying that he had found another job but was subsequently caught.
When told about the investigation he replied,“I have an idea about it.” In a statement to police, he admitted that he worked at the Bank of Nova Scotia Wildey branch and “noticed” an account that hadn’t been “touched”.
“I noticed external deposits being the only transactions being made to the account of the account holder,” he admitted.”
Nation Editorial 17 03 2021