Nassau, The Bahamas: Was there LEGAL authority to channel money to an account in the name of the National Investment Fund and use those monies for those purposes - without the express approval of the board and investment committee as required by Bahamian law
By Marlon Johnson
The REAL Critical Question:
The question here is not what the money was spent on.
There already exist mechanisms for government to invest in roads and court houses etc - those things for which the Minister indicated that the lion's share of the money was used .
We have been doing that as a country for decades and decades now through the established budgetary and treasury mechanisms.
The question is whether or not there was LEGAL authority to channel money to an account in the name of the National Investment Fund and use those monies for those purposes - without the express approval of the board and investment committee as required by law. No account has been set up by the NIF and no approvals have been granted by the NIF.
Because if there is no lawful authority, then why exactly would the government be doing this? What would be the legitimate reason when the government could use the established budgetary and treasury processes to facilitate the roads, courthouses, and airports?
And if we can all just ignore the laws when it is convenient to do so, then why do the laws exist in the first place?
