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 Simpson
 http://radiofiji.com.fj/fullstory.php?id=38476
Thursday, July 21, 2011


Comments

Anonymous said…
We should sack the government who appointed them and allowed this for three years.......oh that's right we can't until 2014 (maybe).
Rambo said…
...and what may we ask are all the RFMF boys being paid for all there extra jobs or do we have to wait until one of them turns against government for that to be revealed.

Why did the PM not mention this at the time and I don't recall government saying they where sacked at the time ?

And who appointed them to all those board positions ?
Exposing their own errors said…
Can't government see by exposing these money hungry unionists that they are exposing and admitting their own shocking errors of judgement and miss management. They removed boards and CEO and boards and the appointed all the new replacements ! I expect rumors of the PMs excess earning to emerge again very quickly and for good reason.
Government asleep at wheel said…
The pm did not "promptly kick them out" he appointed them and let them enjoy the perks for three long years !!!!!

It looks a lot like government leaked this info to discredit the unionists but I think it does more to discredit the PM and his government. They can't blame this on SDL.
Yea yea said…
"shocking salaries paid to military men". Vs " no one in the rfmf will benefit from this coup". If only we had a free press.
Anonymous said…
Dear croz,

Pretty simple answer. For my friends and supporters everything, for my enemies the law ( or in this case name and shame).
Anonymous said…
Croz I can't see the piece you refer to re Anthony ulari
Regular reader said…
I can't see your "Todays News" bit croz. Not sure if issue with website or just timing.

keep up the good work.
What is good for one is... said…
....so the PM is now going to disclose how much he and his merry men are being paid so we can judge him in the media ?
Anonymous said…
Thankyou PM and Fiji media for exposing these former board members. Could you please now do the same for all government ministers and newly appointed board members ?
SURCHARGES! said…
There is a very quick answer to this situation of grossly overpaid trade union (or any other) members of boards: SURCHARGE the lot.

Refund their undeserved and unsmart directors' fees and benefits to the FNPF especially and to all other entities whose interests they were expected to be serving. Take back their motor vehicles and any other benefit unaccounted for.

Ensure that in future this NEVER happens for a third time. We saw one director under Qarase serve on ten boards. These individuals must be asked now to stand up, be surcharged for their past excesses and refund to the institutions the monies they inappropriately, with conflicted and undeclared interests (corruption, by the way) paid themselves. Until this happens, we are all lost. Let the investigations begin NOW.
TI Fiji - Apply the Code of Conduct said…
We are waiting to hear Transparency International Fiji Board speak out and up about their stand on the Union Leaders who conflicted their interests by paying themselves on a board on which they sat (elected or by appointment makes no difference in this matter). No TI Board Member may be paid or accept any benefit without full declaration so they are fitting people to speak out. However, they so often do not.

We are not in a place now where those who should and ought fail us. If they feel unable to speak out on an issue such as this.....resign. Their Code of Conduct is very stringent and demanding of them. Once signed it should endure for life.

Stand up, TI Fiji and show the right path: show what you are made of!
Work Cut Out! said…
The more we read through this catalogue of boards and their unfortunate 'orchestra' of directors, the angrier we become. We have good reason.

These profligate directors and their Chairpersons should now consider themselves in the window for legal action: all of them no matter the chronology of their appointment. Either they submit to surcharging with only their immediate expenses and legitimate travel costs reimbursed (a set honorarium would be better)or they submit to being sued by all the stakeholders and investors who wish their compulsory funding of the FNPF realised and made good.

Due dilgence/a duty of care/proper attention to a Code of Conduct and the requirements of this code.....etc, etc.

Start examining your past conduct and writing your journals daily! Anyone who has been 'in situ' since 1982 will have their work cut out on this.
Anonymous said…
money paid for hard work...............not freebees!
Anonymous said…
i think this is not the only Board that recvs directors fees......so why not chek out other boards...i think union members decide how much their bosses get paid as salary not any one else... union is not a govt entity...........reality check!

Popular posts from this blog

Lessons from Africa

Fijian Holdings Scandal: Betrayal by their trusted sons

The Ratu Tevita Saga, Coup4.5, Michael Field, the ANU Duo, and Tonga