A forensic audit of the FUND at NIB must begin – PART II – BP SUNDAY SPECIAL


Algernon Cargill now under a web of questions as Director of NIB.

Nassau, Bahamas — When someone gets serious over these revelations down at the National Insurance Board, they will begin asking some questions whose answers we find disturbing.

Answers like:

How many pensioners were declined payouts for the past year?

How many residents were paid contributions for sick benefits?

How many were denied payment for industrial accidents?

How  many Bahamians, whose family member contributed to the fund were denied death benefit in the past year?

And why are so many persons are being turned down for the newly introduced Subscription Drug Plan?

The numbers are shocking!

Someone, when they get serious on the Board, will also ask the question: why were the contributions to young children, who are entitled to death benefits, reduced in the last year?

The revelations are shocking.

But while Bahamians and residents alike are getting the black carpet treatment at NIB, some should be questioning the salaries of senior executives at the Board which are, we can conclude, outrageous to say the least.

Algernon Cargill Director at NIB has not only fattened his coffers with money from the social security scheme, but has packed the operation with his close friends and benefactors, Association buddies, Church brothers and sisters and, yes, many of his former colleagues at CIBC.

When a closer inspection is done at the board, it is not a question if the persons are qualified. That does not arise. But when one looks at their salaries, someone must answer the question: how is it so many Bahamians contributing to the fund are being denied while salaries of senior executives at NIB continue to climb?

And here an example: a senior executive at NIB, who is also a big-time PLP in the IT department, is paid more than $120,000 at the Board. That same executive, we know, is also a close buddy of Cargill who sits in the boardroom to get his leg rubbed down by an executive almost every time a meeting occurs – another example of Cargill’s clannish ways.

And it gets worse!

The National Insurance Board is also paying the living expenses for two more IT executives at Sandy Port in Western New Providence.

We can confirm NIB pays a monthly amount of Six Thousand Dollars [$6,000] for the bungalow at the private community but that’s not the bombshell. The rented unit is owned by the brother of the Director Algernon Cargill.

One D. Burrows signed the lease for the condo, for a company named Jes-el car company. And at last we checked that company was and signatory is connected to one Godwin Cargill. Could Godwin Cargill be the owner?

What is this! And that’s not all. Those credit cards we spoke about this morning show that a huge portion in charges posted on the cards were used to pay a courier service here in the capital, and guess who works at that courier service? The same D. Burrows. No one at NIB can conclude what the huge payments are for, nor can anyone verify if the services charged are connected to anything attached to NIB.

As mama would say:  “Something in the milk ain’t CLEAN!”

The National Insurance Board headquarters.

These revelations must raise questions as to the credibility of the top NIB Executives and we have to wonder if the Board is aware of what malady they continue to preside over!

What has happened at NIB in the past and, from the looks of things, is continuing unchecked is damaging to the future of the FUND!

The backside rape, pillage and raid on the public funds must cease and an inquiry must begin!

Bahamas Press calls on the new Christie Administration to open a forensic audit of the National Insurance Fund and stop all hemorrhage and waste that is happening therein.

And a failure to act will result in a total collapse of what Pindling intended to take care every ordinary Bahamian from the cradle to the grave!

Let’s save NIB now!

We report and yinner decide!