The CoI Team. Photo: File

By Jane Joshua

The official report on the Commission of Inquiry (CoI) into the alleged mismanagement, illegal and improper conduct of the past and present staff of the Vanuatu National Provident Fund (VNPF) will be handed to the Government this afternoon.

The ceremony will see the presentation of the Commission’s Findings and Recommendations by COI Chairman Olivier Fernandez and Commission members: Anita Jowitt, John Timakata, Cathy Nako, Andrew Kausiama and Tony Naliupis, which the members of the Fund are looking forward to hear.

There will be speeches from the Minister of Finance and Economic Management Gaetan Pikioune and Minister of Justice Ronald Warsal before the closing remarks by chairman Fernandez.

Minister of Justice, Ronald Warsal, initially established the CoI into VNPF on August 18, 2016.

The Commission went through 5,000-plus documents in the review, followed by a 5-day public hearing undertaken by the CoI in December 2016, which involved 26 interviewees.

Interviewees were interviewed live through the Vanuatu Broadcasting Television Corporation’s (VBTC) Televisen Blong Vanuatu (TBV) and Radio Vanuatu.

They comprise current and former VNPF staff, Board members and third parties involved — all in relation to the allegations involving Vt4.454 billion worth of non-performing investments undertaken by the Fund, from 2007 to 2014.

These investments are in no circumstance a loss incurred by the Fund, as explained by chairman Fernandez previously.

They represent the actual book value of amounts paid for a list of investments under review, most of which are real estate assets with an actual market value.

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