State Repayments for NBF Collapse total $36 million

[posted 30 September 2004, 16:00]

The government has paid $36 million dollars related to the collapse of the National Bank of Fiji.  

Years after the collapse of the NBF, the cost is still being borne by the citizens of Fiji.  The people of Fiji are still footing the bill for the party that was carried out by the so-called stewards of the NBF.  Mismanagement of resources and poor business practices ultimately precipitated the demise of the bank.   

In yet another story related to the release of the Auditor-General's 2003 Report this week, the NBF collapse is a vivid reminder to all of Fiji of the costs that corruption places on the country.