Shocking FNPF directors fees paid to Fiji unionists
See also my personal comments in today's NEWS "Anthony Urai Took Exorbitant Fees" where I wonder why this information is only now being released.
Fiji Union leaders were paid shockingly high directors fees – as high as $180,000 - when they sat on the board of the Fiji National Provident Fund and its subsidiaries from 2007 to 2009.
Audited documents by KPMG obtained by FBC News show that union leader Felix Anthony received $185,934 over a period of three years – when he sat on the FNPF board and its subsidiaries.
Other Union leaders like Daniel Urai were paid in excess of $156, 287 while James Raman was paid $150, 576. FPSA general secretary Rajeshwar Singh was paid a total of $47,533.
FBC News understands this was on top of the annual salaries they were paid for doing their normal union jobs.
They also received other perks such as free mobile calls.
Government found out about the way the unionists were paying themselves directors fees for being on the FNPF board – while also gathering directors fees from as much as seven other subsidiaries - in 2009.
Prime Minister Commodore Voreqe Bainimarama promptly kicked them off the board after discovering this.
The FNPF is Fiji’s pension fund that is for the retirement of all workers in the country.
The Fund has faced substantial losses and allegations of mismanagement, and actions are currently being proposed to save the Fund.
Anthony sat on the board of FNPF and its subsidiaries Home Finance Ltd, Amalgamated Telecom Holdings, FNPF Investments Ltd, Natadola Bay Resort Ltd, Telecom Fiji Ltd, Yatule Beach Resort Ltd, and Vodafone Fiji Ltd – and was paid directors fees for all of these.
Urai sat on the FNPF Board, Home Finance Company, ATH, FNPF Investments Ltd, Natadola Bay Resorts Ltd, Grand Pacific Hotel Ltd, FNPF Hotel Resorts Ltd, Yatule Beach Resort Ltd, Vodafone Fiji Ltd, and Fiji Directories Ltd and received directors fees for all them.
Singh received over $47,000 for being on the Home Finance Company Ltd board from 2007 to 2009.
No comments could be obtained from the three unionists – two of whom are overseas at this stage - calling for sanctions and strike action against the current government for abusing workers rights.
Report by : Stanley Simpsonhttp://radiofiji.com.fj/fullstory.php?id=38476
Thursday, July 21, 2011