The former Managing Director of Apma Financial Investment Centre (AFIC), Mr Barnabas Tabi, has reportedly started to make awareness on Pentecost to re-open AFIC operations on the island.
Mr Tabi is telling the people of Pentecost that AFIC will soon re-open its office around this month on Pentecost.
At a public awareness on Pentecost, Tabi said he will bring office equipment in Port Vila to Pentecost where the headquarter will be located.
According to a recording of the awareness obtained by Daily Post, Tabi says AFIC is registered under his name at the Vanuatu Financial Services Commission and the business license, which he paid with Customs and Inland Revenue Department.
He claims that he was operating legally before the Cooperative Department intervened.
Mr Tabi even questioned the audit undertaken.
He told the people of Pentecost that once AFIC operations begin again, he will ask the Reserve Bank of Vanuatu to give a license to operate as a commercial bank.
Daily Post understands that an application has been made by AFIC in Port Vila through the backing of the Cooperative Department, seeking orders from the Court to recover all assets belonging to AFIC.
By mid-August a date was yet to be set by the Court for the hearing of the matter.
There was also talk of filing a criminal case against Mr Barnabas by the Cooperative Department but Daily Post checked this week with the fraud section of the police, there was no complaint lodged against Mr Tabi.