News Feed

October 21, 2016 - Teenager bamboozles England Teenage off-spinner Mehedi Hasan to ... +++ October 21, 2016 - Local weed cultivation on the rise Marijuana cultivation is on the ris ... +++ October 21, 2016 - Pollard vents on his failed UAE tour PORT OF SPAIN, Trinidad – Kie ... +++ October 21, 2016 - Teen faces indecency charge A St George teen who was charged in ... +++ October 21, 2016 - GAIA wage dispute resolution in sight A prolonged and sometimes bitter wa ... +++ October 21, 2016 - Combermere thrash Graydon Sealy Former champions Graydon Sealy had ... +++

Cabinet sacks bank chairman

regionalsackedbankchairmanPORT OF SPAIN — Four months after he was re-appointed chairman of the Agricultural Development Bank, Rudy Maharaj has been fired.

Food Production Minister Devant Maharaj on Saturday confirmed that last Thursday, based on a note he took to Cabinet, Maharaj (Rudy) was removed from his post.

He was replaced by Yasid Gilbert.

Minister Maharaj said cabinet agreed to the decision to remove the chairman based on reports he had received related to governance issues.

He conceded while Maharaj (Rudy) had “turned around the bank”, he was not following proper procedures and policies.

In October 2012, Opposition Senator Fitzgerald Hinds had questioned Maharaj’s (Rudy) behaviour during his contribution to the budget in the senate.

“Rudy Maharaj is involved in operational matters in the bank, interviewing staff alone, receiving resumes, behaving like an executive chairman, short-listing people for interviews, dictating things to HR managers and loan managers about loans in the ADB. Poor governance,” he had said.

Hinds had also alleged the racial composition within the organisation was of “grave concern”, claiming that under the chairmanship of Maharaj, 35 people were hired, “all of one race”.

The Express understands a decision by the ADB to lease a building along Mulchan Seuchan Road in Chaguanas at a cost of $200,000 a month for four years, amounting to $9.6 million, from Wayne Gosine is also under review, given that the building does not have Town and Country Planning approval.

Gosine is the owner of 21st Century Insurance Brokers and the brother of National Petroleum chairman Neil Gosine.

Reports are that the building was painted in the ADB’s colours long before the contract was signed, and it remains unoccupied.

The bank has a branch at Ramsaran Street, Chaguanas.

“The irony of the entire transaction is that while all these negotiations and dealings were taking place, the Chaguanas Borough Corporation was publishing notices in the press to all those with illegal structures to show cause why the buildings listed should not been demolished in accordance with the law,” a source said.

“Because the ADB is not a government ministry, they are not subject to the rigorous scrutiny by the Property Management Division of the Ministry of Housing, which oversees the procurement of properties that are to be rented for Government offices. These requirements include all statutory approvals, including completion certificate from the local health authority, fire certificate and OSHA compliance clearance. The building was joined at several places and, by so doing, has now compromised the structural integrity of the compound,” the source explained. (Express)

Leave a Reply

Your email address will not be published. Required fields are marked *