The Misuse of Poor Farmers’ Funds at the PC Bank
The Shocking findings of a special audit of the National People’s Cooperative Bank of Jamaica (NPCB) were recently revealed.
The audit uncovered the shocking misuse of the money of the more than 200,000 members of the National People’s Cooperative Bank of Jamaica (NPCB), and rampant abuse of position by those in charge at the institution, resulting in over $665 million, or 21 per cent of members’ deposits, unaccounted for at the National People’s Cooperative Bank of Jamaica (NPCB).
My grandfather is turning in his grave now, but that is what many who had values, ethics and morals in yesteryear are doing now.
In a non surprising era when greed and corruption are the DNA of people in powers or those who walk in the corridor of power the misuse of poor farmers’ savings by directors and management of the National People’s Cooperative Bank is tantamount to grand theft.
How can we trust those who are empowered and authorized to chair, create policies and manage an institution, especially an institution entrenched in the agricultural interest of Jamaica.
It bothers me that persons held in these positions and elected to leadership positions are violators or indeed common criminals.
Where is the conscience of people in position? Where is the action of those who are stewards of the society?
This PC bank’s misappropriation of money and fiduciary abuse is a disgrace not only that sector but on the landscape of Jamaica.
I do hope that those in authority will take the appropriate measures to discipline the abusers but most importantly will put in place policies and procedures to recover the over $600 million that went to corrupt and unconscionable stewards of the people.
By Maurice Christie