Bank of Asia appeal to Governor just a “political show” — Smith

Smith

Junior Minister for Financial Services Lorna Smith has strongly criticised Opposition Leader Myron Walwyn for appealing to Governor Daniel Pruce over the Bank of Asia investigation, calling the move a “show” and urging respect for existing local processes.

Speaking during a recent House of Assembly sitting, Smith said the matter is already being addressed through proper regulatory and investigative channels.

“I firmly reiterate that I support government decisions on this matter,” Smith stated, referring to the ongoing issues surrounding a $5 million government deposit into the failed bank. “The regulator and the liquidator are taking action, and we await their report,” she explained.

She added that Premier Dr Natalio Wheatley had already called for the internal auditor and Auditor General to investigate and report their findings.

“I was very taken aback when the Leader of the Opposition stated that he had asked the governor to intervene in this matter,” Smith stated. “As the saying goes, I was gobsmacked.”

Smith said the move contradicted the opposition’s usual stance of resisting colonial overreach.

“Here we are, on the one hand, with the opposition demanding that we stay firm in the face of colonial decisions made by the United Kingdom. And on the other hand, we are asking the Governor to intervene every time there is a need for clarity or we do not agree with a decision,” she argued.

Smith pointed to the systems already in place for accountability, highlighting the role of the Public Accounts Committee and the Auditor General.

“This House of Assembly has the mechanisms that you would expect of a sophisticated legislature. So why not use them? Why this show? Because that is all it is,” Smith insisted.

Walwyn previously raised concerns over the lack of transparency surrounding the government’s multi-million-dollar deposit into the troubled Bank of Asia. He rejected the Premier’s call for an internal audit, arguing that such reviews are not subject to public scrutiny.

“What we need is an independent investigation into the circumstances surrounding the people’s five million dollars, one that the public can trust,” he stated. “Therefore, I am publicly calling on the Governor to have this matter investigated.”