Investments by the NIS in the troubled Berbice Bridge company and others which have left the Scheme in a dire condition were decided not by the board but by the Cabinet of the former PPP/C government.
This disclosure was made by the forensic audit into the National Insurance Scheme (NIS) based on the examination of minutes of board meetings.
The finding will add to long-held concerns that former PPP/C President Bharrat Jagdeo set out to use the funds in the NIS for various investments connected to persons close to him without the directors of the board exercising their fiduciary responsibilities. The Chairman of the NIS board during the 23 years that the PPP/C was in office was Dr Roger Luncheon who also served as Head of the Presidential Secretariat and Secretary to the Cabinet for the entire period.
According to the forensic audit into the operations of the NIS,
