Malaiata Ma’asina Forum (MMF) has called on the chairman of the Solomon Islands National Provident Fund (SINPF) Baoro Laxton Koraua to resign.
MMF president Charles Dausabea said the current NPF board chairman should be sacked on the grounds on what he claimed as poor leadership and mismanagement of members’ contributions.
Mr Dausabea was referring to the $15 million loan to Tavanipupu island resort which a reliable source has confirmed has now being in default.
“The NPF board said they have administered the $15 million loan when we raised the issue before and now we have seen the chairman and his board has failed miserably,” Dausabea said.
He said what has unfolded to the very eyes of our people is seen as one of the biggest fraud if you like.
Adding, this trend is not right and if it continues members of the fund will be the ones who will reap the consequences and not the chairman or his board.
Dausabea stressed that if the new government comes into power, it should take off all Malaitan’s contributions and form its new fund since seventy percent of the fund’s contributions are that of Malaitans.
He said MMF will urge the new government to open up again members housing scheme to help members in their pursuit to own homes, a thing this current board has scraped out due to some unknown reasons.
Meanwhile the MMF president said if a new government comes into power, it should form a taskforce to investigate the dealings of the current NFP board which seems fishy.
He added the current board chairman and his board should not boast about last year’s interest payout of 20 percent because it came about from what the previous board has done and not that of the current board.
But Mr Koraua in response said investments are investments. He said its not good to continue to feed the public with sensational news that based on no facts.
Mr Koraua added that it is nonsense of Mr Dausabea to make such comments because if it wasn’t for the good investments made, members cannot be paid $232m this year.
Adding that having to go through a suppressed economy at a growth rate of 0.9 percent, such return for members speaks volumes of what the fund has achieved for its members.
The fund’s chairman added that what Dausabea should know the fund is subjected to audit every year and don’t know why Dausabea is making such noise.
Adding, although Dausabea has the right to raise such issue in the media but said the fund is happy to respond to members than to those making noise for their own political gain.
By Daniel Namosuaia