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Social Services shredded records in fraud cover-up By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HREDDING documents to cover up fraudulent activities was “a matter of routine” at the Department of Social Services, the Auditor General has revealed. The Government’s chief financial watchdog, in his audit of the 2014-2015 fiscal year, warned that “impaired internal controls” and “a severe breakdown” in

management oversight had exposed Bahamian taxpayers to the potential loss of millions of dollars from graft and corruption. The report, tabled in the House of Assembly on Wednesday, suggested that the department’s weaknesses and failings were also undermining its mission to assist poor and low income Bahamians. Among the key findings were: • The Auditor General’s investigation was “impeded” by a “senior accounts staff member”

Post Office Bank ‘didn’t know’ the level of client deposits By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Post Office Savings Bank did not know how much money it held in customer deposits when examined by the Auditor General for the 2014-2015 fiscal year. The Government’s financial watchdog, in a report tabled in the House of Assembly on Wednesday, revealed that Savings Bank staff were unable to determine the amount of funds held in both active and dormant accounts. Calling, with deft understatement, for the Post Office to calculate these sums, the Auditor General’s report said: “We were informed that the dollar

value for both the active and inactive accounts could not be determined by the staff of the Post Office Savings Bank. “Further, we were also informed that there are no rules governing when an active account becomes inactive.” Some 33 percent, or 9,044 of the Post Office Savings Bank’s total 27,143 accounts, were said to be inactive or “dormant” at the time of audit, with 18,099 or two-thirds still active. The Auditor General’s report called for dormant accounts, which had been inactive for seven years, to be transferred to the Central Bank of The Bahamas to bring the Post Office Savings Bank into compliance with the

‘Bolster’ bidder disclosure for govt contracts amid woes By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net INVESTIGATORS have called for the draft Public Procurement Bill to “be bolstered” on payment approvals and bidder disclosure following exposure of the Ministry of Finance’s contract woes. FTI Consulting, which probed the ministry’s computer supply and apartment rental deals, said its “significant compliance challenges” in the absence of documented procedures and guidelines meant the proposed legislation should needed to be

further strengthened. While agreeing that the draft bill “would bring substantial improvement to the current regulatory landscape” relating to procurement, the Bahamian accounting and advisory firm said the deficiencies uncovered were so profound that its legal requirements needed to become tighter and deeper to protect taxpayer “value for money”. Noting that the Ministry of Finance had been unable to produce any written procurement policies during its investigations, FTI Consulting confirmed that the

SEE PAGE 4

Integrity Commission value ‘reinforced’ by contract woes By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Ministry of Finance’s questionable contract awards have “reinforced the value” of the Integrity Commission Bill and other planned anticorruption laws, governance reformers said yesterday. Matthew Aubry, executive director of the Organisation for Responsible Governance (ORG), which is about to launch a National Integrity campaign, said the probes into the ministry’s computer supply and apartment rental deals had highlighted the absence of

protection for public service whistleblowers. He told Tribune Business that ORG was “keeping the pressure” on the Minnis administration to move forward with the Integrity Commission and other reforms vital to overhauling Bahamian governance, including the creation of an Ombudsman’s office, public procurement legislation and bringing the Freedom of Information Act into full effect. Mr Aubry said the probes, conducted by FTI Consulting on behalf of the Auditor

SEE PAGE 5

ordering the destruction of various accounting records, including cheques, vendor statements and receipts. Among the documents to be shredded were those from 2014 and 2015, the years under examination, as well as for the period 2010 to 2013. • The Department of Social Services processed a fictitious invoice from a medical provider, and ended up paying for a

• Accounts destruction ‘matter of routine’ • Paid for unperformed ‘procedure’ on dead client • $4.2m in payments without proper scrutiny

* LAST AUDIT WAS 13 YEARS OLD * NO INTEREST PAID FOR SEVEN YEARS * AUDITOR GENERAL: BRING INTO 21ST CENTURY latter’s governing Act. The Post Office Savings Bank must be one of the few, if any, banks worldwide not to know how much money it is holding on behalf of depositors. Not only does this inhibit its efficient operation, but in an era of greater regulatory scrutiny represents a potential supervisory weakness for The Bahamas. The Auditor General’s report also revealed that the last audited financial statements for the Post Office Savings Bank were produced in 2010 for the 2002

SEE PAGE 4

non-existent procedure on a dead person. It had some 255 days to check the service was performed, but failed to do so. • Some $4.237m worth of vendor payments were made without the necessary executive management or financial officer signatures, further

exposing the Department of Social Services to loss and fraud. • “Collusion” between staff at a local food store and Department of Social Services personnel enabled the latter to use food coupons, intended to help poor and low-income Bahamians, to purchase

groceries for themselves. Disclosing its in-depth findings, the Auditor General’s Office said the instructions due to destroy key accounting documents had come from a “senior accounts staff member” “with the knowledge” of

SEE PAGE 6

NHI catastrophic plan to cost under $1,000 By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government plans to roll-out National Health Insurance (NHI) catastrophic care plans costing “as little as $1,000 per year” within the next three to four weeks, it was revealed yesterday. Dr Duane Sands, minister of health and national insurance, said the Minnis administration plans to roll-out a “significant adjustment” to the scheme once it gets Cabinet approval. He made the disclosure at the Exuma Business Outlook conference, saying: “NHI provides primary care services to just over 40,000 Bahamians. We expect in the next three to four weeks to roll out a significant adjustment to the

* Roll-out in 3-4 weeks * Employees to pay under $20 DR DUANE SANDS

National Health Insurance plan to include coverage for catastrophic ailments. “Once we have gotten Cabinet’s approval, it is anticipated that we should be able to provide major medical plans for as little as $1,000 per year. That amount will be borne by

the Government of The Bahamas, the employer and the employee, with contributions on a monthly basis by the employee of less than $20 or no more than two per cent of a person’s salary and no more.” Dr Sands said The Bahamas spends almost $900m on healthcare annually. Some $306m of this comes from the Government’s Consolidated Fund, with $80m spent on health insurance for MPs, teachers, police officers and other public servants. “Bahamians pay more for health than most people in the world. We have a lousy result in terms of our health status and perhaps we can change the model,” Dr Sands suggested.

PAGE 2, Friday, October 19, 2018

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THE TRIBUNE

Crime fears are attack on tourism CRIME, and the fear of crime, represent an attack on the tourism industry and wider Bahamian economy, a senior Ministry of Tourism official has argued. Joy Jibrilu, the ministry’s secretary-general, told a workshop on tourist safety and security that “no visitor should have to question” whether they trust a jet ski operator, taxi driver or any other profession in the industry. With tourism becoming increasingly competitive, and countries “putting the might of their power” behind attracting more visitors, Mrs Jibrilu said The Bahamas can ill-afford for the economy’s main industry to be impacted by crime. “In this new order, safety cannot be touted as a benefit to visiting any destination. It is a basic human right,” she added. “People are entitled to feel safe while running along our beautiful coastline, or dancing to their favourite song. No visitor should have to question whether or not they can trust a jet ski operator to take them for a ride, or walk in our city centre without the fear of being victimised.” Hosted by the Ministry of Tourism and Aviation, the workshop was held under the theme: Tourism Safety and Security: Enhancing safety and security strategies for our number one industry. Mrs Jibrilu said that while crime is “everywhere in the world”, The Bahamas and small-island populations that are heavily dependent upon tourism must always remember that “we are competing in a world that is

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JOY JIBRILU

increasingly recognising the value of tourism as a contributor to economic growth and success”. She told industry partners and law enforcement officials that officials at the Ministry of Tourism and Aviation were “ready to stand by them” in the fight against crime. “Ladies and gentlemen, you are not alone in your fight against crime, as it is - and should be - a community effort,” Mrs Jibrilu said. “Our logo that ‘tourism is everyone’s business’ means that we at the Ministry of Tourism and Aviation are ready to stand with you. We will continue to open the lines of communication to promote safety and manage impacts as they come.” She added that the workshop, facilitated by the ministry’s Visitor Safety and Security Department, headed by Vincent Harris, was a step in that direction. “In this workshop, it is

hoped that we can put forward and elaborate valid concepts that can enhance our fight against crime and therefore secure our hospitality industry for many years to come,” Mrs Jibrilu said. “It is meetings such as this, where there is a ‘meeting of the minds’ and a collective will to do the right thing, that we will achieve the best results and outcomes. Let us see how we can lead the way in the region as being a safe, world-class destination where people’s dream of a ‘dream location’ is matched by the reality they meet on the ground. “It is my hope that this forum would present the perfect opportunity to lead to breakthroughs and ideas on how to enhance safety, not only in our tourism sector but throughout our nation, thereby achieving the common loftier goal of making it truly better in The Bahamas.”

THE TRIBUNE

Friday, October 19, 2018, PAGE 3

‘CRISIS MONITORING’ OVER BOAT TRAGEDY By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE Ministry of Tourism was yesterday said to have activated its “crisis monitoring” as it braces for more international fallout following the report into the causes of the 4C’s boating tragedy. Ellison “Tommy” Thompson, the Ministry’s deputy director general, told the Exuma Business Outlook conference that, to-date, much of the coverage surrounding

the incident has been local. “The 4 Cs boating accident in June hit more closely to home and required aggressive crisis management and a forward looking plan,” Mr Thompson said. This was followed by a critical Bahamas Maritime Authority (BMA) report into the Four C’s Adventure boat explosion and fire, which found that the company broke the law by operating a boat that was neither registered nor inspected by the Port Department.

An American woman was killed and several others injured in the incident. “Following the results of the investigation we have initiated crisis monitoring, and coverage remains local at this time. However, we anticipate additional rounds of media coverage once the results reach the victims and, inevitably, the media,” Mr Thompson said. “The past year has presented issues for The Exumas, and islands across The Bahamas and the region. Last fall,

Hurricanes Irma and Maria left traveller uncertainty, not damage, in its wake, calling for swift crisis communications plans to let travellers know that the islands were open for business.” He added: “Last year was without a doubt a historic hurricane season for the region, but while rebuilding continues we are bullish on the future of our region. Tourism business in The Bahamas is quite good. The trend in international arrivals turned around in October

2017, and has been consistently positive since then.” Mr Thompson said that, for 2018 to-date, The Bahamas has seen solid stopover arrival growth, with the US, its leading source market, producing an increase in stopover visitors of 6.5 percent. Forward bookings to the end of the year are up 9.2 percent. He added that air and sea arrivals data shows that Exuma received 42,448 visitors between January and July this year, compared to 42,667 visitors during the same period last year.

Overall, The Bahamas has received just over four million visitors compared to 3.8 million for the same period last year. Mr Thompson said the Grand Isle resort was set next month to complete a $5m fine dining/multipurpose restaurant with, complementing infinity pool and private gazebos. He added that it was “not a matter of if but when” Sandals will expand in the Exumas, although these plans will be challenged without additional airport capacity.

DNA: Go beyond ‘semantics’ in developing OECD counter By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Democratic National Alliance (DNA) yesterday urged the Government to go beyond the “semantics” of whether The Bahamas was “blacklisted” in the targeting of its economic permanent residency regime. Arinthia Komolafe, pictured, the party’s deputy leader, said The Bahamas’ inclusion in a list of 21 countries whose residency/ citizenship regimes were considered potentially harmful to the “integrity” of the Organisation for Economic Co-operation and Development’s (OECD) automatic tax information exchange efforts was neither “positive, complimentary or favourable”. She called on the Minnis administration to follow Monaco’s lead and take

action to remove The Bahamas from the OECD list, given that the principality secured its delisting by

showing its residency and immigration regimes will not affect the Common Reporting Standard (CRS). “We submit that this is another classic case of the moving of the proverbial goal posts by international organisations,” Mrs Komolafe said in a statement. “The Government must now move beyond the semantics and address this issue for what it really is. “The reality is that only 21 out of over 100 countries were placed on this list for high risk citizenship by investment/residency by investment schemes. While the use of the word ‘‘blacklist’ may be inappropriate or frowned upon, the list is not a positive, complimentary or favourable one.” The OECD listing threatens to negatively impact a wide cross-section of the Bahamian economy, and not just the hard-pressed financial services industry.

$20m mini-hospital ‘short on support’ By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A CABINET minister yesterday said the $20 million George Town “minihospital” is still in need of basic support services, with a shortage of qualified healthcare professionals impacting the entire Bahamas. Speaking at the Exuma Business Outlook conference, Dr Duane Sands, pictured, minister of health, said that a single health facility in George Town was unlikely to be sufficient to covert the whole island.He added that satellite facilities in other settlements will be necessary. “It is certainly beautiful, but we have to look at what it takes to deliver on the promise,” Dr Sands said of the mini-hospital. “If we are ever going to open that operating room, we need surgeons, anesthesiologists,

interns etc. “It comes down to even more basic requirements. There is an inadequate supply of pharmacists and lab technicians, radiographers and ultra sound operators, and a lack of physical and occupational therapists. We have a lot of basic support services are needed first. “ Dr Sands stressed that a national strategic plan for healthcare was required. Touching on the debate over the Government’s inability to support

training for some 65 firstyear medical students, he said: “On the face of it, it many seem uncaring, but what is the point of supporting 65 doctors when we have a shortage of more than 800 nurses? “What is the point of supporting 65 doctors when, in Abaco and Exuma, there does not exist the ability to use millions of dollars in equipment because we lack a single radiographer.” The Government last month confirmed it will cap subventions to medical students at the University of the West Indies to 25. Dr Sands recently told reporters that the decision to cap assistance was an “issue of the glass half full, glass half empty”. He insisted the Minnis administration’s holistic approach would bring balance to the level of Government support afforded to all stakeholders in the healthcare system.

Besides attracting high net worth clients and their assets to this nation, economic permanent residency drives lucrative business for real estate developers, realtors and attorneys, and produces spin-offs affecting virtually all industries. While the OECD’s list, and accompanying report, did not mention the imposition of sanctions or penalties against The Bahamas and 20 other countries, it did call on financial institutions to apply greater scrutiny to persons benefiting from their investment-related residency and citizenship programmes when it came to determining their tax compliance. This enhanced due diligence, and likely extra costs and time involved, could deter wealthy investors and homeowners from applying for Bahamian permanent economic residence - thereby undermining

a key component of the foreign direct investment (FDI) regime that has been in place for decades. “This equates potentially to additional scrutiny and enhanced due diligence on legitimate economic permanent residents of The Bahamas,” Mrs Komolafe added. “We note that since the release of the guidance, the OECD has issued a statement in which it was asserted that Monaco’s residence and immigration requirements do not pose risks to the integrity of the CRS. This followed the provision of additional information by Monaco and it is expected that the guidance/list will be updated to reflect this.” The DNA deputy leader continued: “The Government has an obligation to ensure that the OECD is made aware of the robust and rigorous process in

place for the granting and maintenance of economic permanent residence by individuals [in The Bahamas]. This includes a comprehensive due diligence and vetting process to ensure the fitness and propriety of all applicants. “The economic permanent resident programme and second home market are well regulated and pivotal to our economy. It impacts the real estate, financial services, tourism and government sectors with contributions to our nation’s Gross Domestic Product. “We need effective representation and diplomatic collaboration to address this latest attack on our nation’s economy. It is simply unfair and unacceptable for the OECD to place The Bahamas on any adverse list despite our demonstrated commitment to meeting our international obligations.”

PAGE 4, Friday, October 19, 2018

THE TRIBUNE

‘Bolster’ bidder disclosure for govt contracts amid woes

Post Office Bank ‘didn’t know’ the level of client deposits

FROM PAGE ONE

fiscal year - some 13 years prior to the watchdog’s latest audit. It called for the Post Office Savings Bank to be modernised through the introduction of debit cards, Automated Teller Machines (ATMs) and online banking, while the institution had breached its mandate by failing to calculate and pay annual interest at six percent (capped at $6,000) on customer accounts for seven years. Nothing had been paid since 2008. “Deposits and withdrawals are still being transacted with the use of passbooks as the only source of reference in a 21st century banking environment,” the Auditor General’s report found. “Also, the banking system is not modernised to enhance the efficiency and effectiveness of operations electronically.” Turning to other aspects of the Post Office’s operations, the Auditor General found that 380 post box renters had retained their facilities without paying the necessary fees. It recommended that management repossess and lock rental boxes “immediately after the March 31 extension deadline” to ensure owed monies were repaid. The Auditor General’s report also showed why the Road Traffic Department’s ongoing modernisation is necessary, with $662,705 of vehicle stickers and other revenue-generating documents unaccounted for at its Abaco office. It also found that revenue for new licence plates issued over the three-year period to June 2015 was “under recorded” by $234,018. The Auditor General’s Office calculated that $747,000 should

former treasurer and several other officials had confirmed the non-existence of any documented guidance. “Eugenia Cartwright, a long-time civil servant currently employed as deputy financial secretary at the Ministry of Finance, confirmed that the Ministry of Finance has no comprehensive internal written policies, procedures or compliance manuals governing when and how tendering should occur or the approval process for vendor payments,” the FTI Consulting report found. It suggested that a written procurement compliance manual, and other documented policies and procedures, could have addressed the issues raised by the Ministry of Finance’s questionable lease and computer supply contracts, while “fostering an environment of greater accountability”. FTI Consulting, investigating the Ministry’s procurement processes and contract awards on the Auditor General’s behalf, found that neither of the two companies involved in supplying $1.46m worth of computer equipment, and arranging the lease of three

apartments, had a proven track record in these respective fields. Xua Company Ltd, the computer supplier controlled by Island Game web shop boss, Pete Deveaux, and the Bahamas Striping Group affiliate that executed the leases, were incorporated specifically to handle these deals and had none of the permits normally required by the Ministry of Finance for doing business with private companies. The Bahamas Striping Group of Companies yesterday declined to comment on the report’s findings, while Tribune Business sources said Mr Deveaux was in China. He did not respond to messages from this newspaper seeking comment. FTI Consulting had said its findings raised “concerns” over whether Bahamian taxpayers received “value for money” from both deals, as neither contract was put out to competitive bidding. The reports also confirmed that the Government’s Tenders Board is routinely bypassed in the awarding of contracts that should go before it. Noting that the proposed procurement legislation is similar to the Financial Administration and Audit (Amendment) Bill of 2013, which was

never enacted by the former Christie administration, FTI Consulting said it creates a Public Procurement Department that will be responsible for developing - and updating - a procurement manual used by all government agencies. “Such an important responsibility could be bolstered by specificity in the draft bill regarding the timeframe in which the Public Procurement Department would be required to draft and implement an initial version of the procurement manual and the minimum frequency with which the manual must be updated,” FTI Consulting urged. “Furthermore, the draft bill might also be bolstered with additional specificity concerning the contents of the procurement manual. While the draft bill addresses the need to obtain information on the ultimate beneficial ownership of each bidder, it could also require that the procurement manual addresses the minimum and specific disclosure requirements for the bidder. “For example, the procurement manual could be mandated to include specific disclosure requirements regarding the ‘business reputation and personnel’ of the bidders.” FTI Consulting added

A WELL ESTABLISHED PRIMARY AND SECONDARY INSTITUTION IN THE BAHAMAS SEEKS PERMANENT POSITION FOR A SENIOR ACCOUNTANT JOB SUMMARY The SENIOR ACCOUNTANT will be able to perform the following key responsibilities and will satisfy all of the following qualifications and attributes. KEY RESPONSIBILITIES • Daily posting of journal entries • Preparation of month-end general ledger account analyses and reconciliations • Assist with the production of monthly and annual financial statements • Assist with overseeing the collection of receivables and payment of payables • Assist with preparing and overseeing deliverables for the annual audit • Assist with preparation of the annual budget • Assist with the development and monitoring of internal controls, policies and procedures MINIMUM CRITERIA FOR EMPLOYMENT Required Qualifications and Attributes: • A bachelor’s degree in accounting • At least 3 years of recent work experience in an accounting role. Prior audit experience is a plus. • A firm commitment to obtaining a professional designation such as CPA or ACCA • Strong knowledge and skills in using Microsoft Office especially Excel • Familiarity with accounting software such as ACCPAC or Quick Books • Ability to work in a team environment • Strong organization and time management skills, which includes an ability to be flexible in completing work assignments by given deadlines.

that the apartment rental contract, involving Atillio Holdings, a Bahamas Striping affiliate, also suffered from “a significant lack of documentation and clarity” around the approval of payments on the lease. “The draft bill might also benefit from addressing the payment approval process and requirements for the Public Procurement Department and for the procurement unit of each agency,” its report recommended. “For example, sections 15-16 of the draft bill describe the procurement units and their functions, but do not specifically address roles and responsibilities surrounding payment approvals and processing.” However, the bill’s requirement for government agencies to document why contracts were not put out to competitive bid was welcomed by FTI Consulting, which said it might have achieved “greater accountability and transparency” over the apartment leases with Atillio Holdings. “The draft bill appears to successfully address the need to document instances in which competitive bidding is eschewed in favour of some other method,” the report added. “It states that ‘every procuring entity shall prepare a procurement plan in writing for each individual procurement requirement’, and this plan must include ‘a justification for the use of any method other than competitive bidding.”

FROM PAGE ONE

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Commercial Division

have been generated, but only $512,981 was recorded in the Road Traffic Department’s records. Several instances of fraud were uncovered, including the misclassification of vehicles according to their weight, with some drivers paying less in licensing fees than they should. “There was a specific case where a truck was brought in for licensing,” the Auditor General’s report found. “The sales agreement and the insurance certificate identified it as a Ford F-250. However, the inspector identified the vehicle as a Ford F-150 per the inspection certificate. “If the vehicle class is not precisely determined the Road Traffic Department stands to lose a minimum of $400 per vehicle between Class A and B, and $150 per vehicle between Class B and C. “In the instance outlined herein, it appears as if the inspector intentionally identified the incorrect vehicle giving rise to a lower fee to the customer. This type of circumstance presents a great risk for the Road Traffic Department in that the department would be susceptible to manipulation of the vehicle classes without any knowledge of the same. “When proper controls are lacking in the inspection process it provides an opportunity for fraud and graft to be perpetrated.” The Auditor General’s report said it also identified “numerous instances of what appeared to be fraudulent insurance certificates”, saying these were “especially seen being perpetrated” on one insurance company’s letterhead - although the company in question was not named. The issuance of a fraudulent licence was also uncovered.

2018/COM/com/00017

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THE TRIBUNE

Friday, October 19, 2018, PAGE 5

INTEGRITY COMMISSION VALUE ‘REINFORCED’ BY CONTRACT WOES FROM PAGE ONE General’s Office, had provided “concrete” evidence to confirm what many had suspected was occurring inside government when it came to awarding contracts. They found that neither of the two companies involved in supplying $1.46m worth of computer equipment, and arranging the lease of three apartments, to the Ministry of Finance had a proven track record in these respective fields. Xua Company Ltd, the computer supplier controlled by Island Game web shop boss, Pete Deveaux, and the Bahamas Striping Group affiliate that executed the leases, were incorporated specifically to handle these deals and had none of the permits normally required by the Ministry of Finance for doing business with private companies.’ FTI Consulting, the Bahamas-based advisory and accounting firm, said its findings raised “concerns” over whether Bahamian taxpayers received “value for money” from both deals, with the computer contract award having been instigated by political influence. Neither contract was put out to competitive bidding, with the reports both confirming that the Government’s Tenders Board is routinely bypassed in the awarding of contracts that should go before it. The Financial Administration and Audit Act and accompanying regulations, plus the Ministry of Finance’s own guidelines, also appeared to be ignored or breached routinely. Asked whether the findings showed ORG and other governance reform campaigners have an almost impossible task, Mr Aubry admitted they face “an upward haul” but added that all Bahamians have “a vested interest” in demanding greater transparency and accountability from the Government. While the Fiscal Responsibility Bill’s recent passage should introduce better reporting, Mr Aubry said the FTI Consulting report showed there were no internal mechanisms within the Government for civil servants to expose irregularities and political pressure being exerted by ministers. “One of the reports pointed out that there doesn’t seem to be any current, existing mechanism or body that you would be able to report concerns to,” he told Tribune Business. “That adds to the value of the Integrity Commission. That becomes really important, and this shows why it is so critical. “We’re on the verge of launching a National Integrity campaign to create more value around the bill. We remind them [the Government] time that’s a priority, be it the prime minister, deputy prime minister or the attorney general, letting them know it’s important and keeping the pressure on.

“We see it as being critical for people who have concerns to bring them forward to an independent body who can evaluate them. The reports identified no existing body that could have received them.” Simon Wilson, the Ministry of Finance’s former financial secretary who is still on leave, told FTI Consulting investigators that the computer supply deal with Mr Deveaux originated at a meeting with the web shop boss and “a senior elected official” in the former Christie administration three months before it was awarded just five weeks before the general election. “Wilson stated that no specific projects were discussed at this meeting, and there was no mention of computer equipment. He added that he did not interpret this official’s suggestion as an implicit instruction to do business with Deveaux,” the FTI Consulting report found. “Rather, Wilson said that he tried to accommodate the official’s suggestion that Deveaux could be a suitable counterparty, and noted that it is not uncommon for such an official to offer suggestions to their subordinates with the expectation that they find a way to carry these outs, provided they do so in accordance with applicable laws and regulations.” The report concluded that Mr Wilson’s account raised “several concerns about the control environment at the Ministry of Finance” - especially the ability of civil servants to resist pressure from their political superiors over irregular contract awards that violate procurement laws and processes. “Although Wilson stated that he did not interpret [the meeting] as an implicit or explicit instruction to do business with Deveaux, it may still represent an example wherein Ministry of Finance personnel feel pressured to select vendors based on input from their superiors rather than through a competitive bidding process,” FTI Consulting said. “If Wilson had felt pressure to engage Deveaux as

a counterparty but disagreed with doing so, it is unclear what independent ethical review bodies or reporting mechanisms, if available, would have or could have prevented such a non-competitive selection. “Ministry of Finance does not appear to have any internal written policies or procedures that could provide an objective justification for its personnel to challenge irregular requests, explicit directives or implicit instructions from senior officials in regard to the selection of engagement of specific vendors.” Mr Aubry yesterday said the Government was still “hashing out” the Integrity Commission Bill, based on a conversation he had with Elsworth Johnson, minister of state for legal affairs in the Attorney General’s Office. “They’re still working on it and deciding where they go with it,” he added, pointing out that it also included a “code of conduct” section that dealt with “conflict of interest” situations. The ORG chief acknowledged the extent of the “challenge” to transform the governance “culture” within the public sector, and said the FTI Consulting reports had confirmed what many long suspected. “I think this gives you some concrete examples of what is going on,” he told Tribune Business. “I don’t think this is beyond what anyone suspected anyway. There are obviously people not following through with the procedures put in place, and the need for transparency and accountability. “We need Freedom of Information. The Procurement Bill, which is coming up, will hopefully address some of this. We need to move to e-procurement, clear lines of procurement, and understand what we’re putting forward. There’s no reason why rents and leases are not put up for competitive bid. “We have to change the culture, and we will change the culture by having as much openness as possible, standardised and open contracts and doing things by the

NOTICE

EXXONMOBIL EQUATORIAL GUINEA (OFFSHORE) AVESTRUZ LTD.

_______________________________________________ Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 13th day of November, A.D., 2018. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 19th day of October, A.D., 2018. R.W. Rice Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

book, which needs to happen across the board. “These reports show that has not been done in the past. If we’re going to make the change, we have to start with acknowledging there are issues. Hopefully, the tabling of these reports in Parliament is the start of that.” Mr Aubry added that the FTI Consulting reports had “given us insights to understand what is going on in these systems”, and admitted: “It is an upward haul, but it is not being done by ourselves. “We all have a role. There is a cost to all of this. If procurement mechanisms are not being followed to ensure money is being spent in the most efficient and costeffective way, that’s wasting taxpayers’ money. We have a vested role in making this change.” Government spending that fails to obtain “value for money” ultimately rebounds on taxpayers to their detriment, as it inevitably leads to increased taxes to cover this inefficiency and waste. Mr Aubry, meanwhile, said the Government itself also had a vested interest in reforming its internal policies and processes if it was to reverse the growing mistrust among many Bahamians. “This lack of trust is so pervasive that the Cabinet may have done everything right but there would still be questions by the public,” he added.

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YOUR

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

N O T I C E

EXXONMOBIL EQUATORIAL GUINEA (OFFSHORE) AVESTRUZ LTD. ____________________________________

N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EQUATORIAL GUINEA (OFFSHORE) AVESTRUZ LTD. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 16th day of October2018 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is R.W. Rice, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the19th day of October, 2018 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

PAGE 6, Friday, October 19, 2018

THE TRIBUNE

Social Services shredded records in fraud cover-up FROM PAGE ONE their supervisor. Suggesting that this breached the Public Service Act’s record retention requirements, the report said: “These acts perpetrated by accounting staff members reveal that there are obvious weak internal

controls over the custody of accounting records within the accounts department and a severe lack of accountability around the same. “As... where a staff member instructed the removal of pertinent medical batches from the accounts department of the Department of Social

Services, it appears that the act of removing or destroying official information is a matter of normalcy among the staff members within the Department of Social Services accounts department.” Describing the document shredding as “not tolerable”, the Auditor General’s report said the loss of accounting records “could undermine the integrity” of the accounts department and “increase the risk of fraud and corruption” to the organisation as a whole. “Instructions were given to destroy government documentation to conceal a fraud relating to food coupons and medical assistance due to collusion between several staff members,” the

report concluded. “Egregious acts were allowed to occur within the Department of Social Services because of the reliance on particular staff members, the lack of a reconciliation process and a breakdown in management oversight. We further recommend that an investigation be conducted into this egregious act around the preservation of pertinent government documentation.” The Auditor General’s report also noted that 14 medical batch files, and other items, were missing after a cleaner was instructed to “clean out a staff member’s desk” and place the contents into a black garbage bag to be handed to the department’s human resources unit.

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NOTICE

HAWKESBURY HOLDINGS LTD.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Hawkesbury Holdings Ltd. has been completed and the company has been struck from the Register on the 13th day of August, 2018.

Shareece E. Scott Liquidator

MARKET REPORT THURSDAY, 18 OCTOBER 2018

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

BISX ALL SHARE INDEX: CLOSE 1,984.03 | CHG -0.08 | %CHG 0.00 | YTD -79.54 | YTD% -3.85

The person who made the request was later placed on administrative leave. Calling on the Department of Social Services to approve assistance requests in “timely” fashion, and verify that medical providers had performed the necessary work before payment, the report identified one “fictitious invoice”. “Although this related to an approved medical procedure, it was noted that the client’s condition declined and, according to the medical provider’s records, the client was ineligible to receive the procedure,” the Auditor General’s Office found. “It should be noted that from the date of the request to the deposit of the payment, 255 days elapsed where no oversight or follow-up occurred to ascertain that the client was not only considered ineligible for the service but also died. However, payment was still processed in the name of this client. “It is evident that the Department of Social Services has exposed itself to an instance of fraud, and a probable instance of graft. Invoices received for services rendered, or products delivered, should be verified and not just paid because it was issued by a legitimate source,” the report continued. “If invoices are not properly verified as to the authenticity, the Department of Social Services could be expending public funds on numerous undetected fictitious transactions.” Turning to the food

coupon scam, the Auditor General’s report found that Department of Social Services had used preprinted vouchers for Stop N’ Shop Grocers - a store that no longer existed. Its name had been crossed out and replaced by an existing business, exposing a lack of control and security around the issuance of food coupons. “Printing food coupons for businesses that are closed presents opportunities for individuals to manipulate the system and could lead to graft,” the report warned. “Through apparent collusion, staff members were able to perpetrate a fraudulent act using coupons intended for the disenfranchised. “This act by these staff members is an indication that one staff member was given too much authority, apparently, with minimal to no supervision. This act may also be indicative of a more complex scheme being perpetrated with public funds.” The Department of Social Services has since shifted to debit cards, trying to move away from the manual food coupons. However, the Auditor General was not finished yet. For it warned that payments to food stores and other vendors were being issued without proper scrutiny from the Department’s executive management, which the report suggested “may be tantamount to gross negligence”. It also said some employees were being paid below the minimum wage.

LEGAL NOTICE International Business Companies Act (No. 45 of 2000) Galway Investment Fund Ltd. (the “Company”) Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of Galway Investment Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 3rd day of October, 2018.

BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.50 4.46 1.26 0.19 3.92 9.26 6.60 5.30 12.50 2.74 1.77 8.21 6.30 13.20 7.00 4.50 13.50

52WK LOW 3.50 19.17 7.50 3.32 0.90 0.15 2.30 8.60 6.09 3.54 9.00 2.30 1.40 7.25 6.00 9.75 5.67 3.25 12.50

1050.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 ##########

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.85 17.43 9.09 4.46 1.01 0.19 2.30 9.25 6.16 3.86 12.42 2.60 1.75 7.33 6.29 13.20 6.35 3.65 13.01

CLOSE 3.85 17.43 9.09 4.46 1.01 0.19 2.30 9.25 6.16 3.86 12.42 2.57 1.75 7.26 6.29 13.20 6.35 3.65 13.01

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.03 0.00 -0.07 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

1,403 1,992 5,000

VOLUME

EPS$ 0.214 0.932 -0.306 0.317 0.059 0.000 -0.996 0.700 0.441 0.154 0.627 0.102 0.209 0.000 0.670 0.701 0.719 0.277 0.631

DIV$ 0.100 1.130 0.000 0.230 0.000 0.010 0.000 0.710 0.220 0.120 0.620 0.060 0.070 0.084 0.280 0.500 0.200 0.120 0.590

P/E 18.0 18.7 N/M 14.1 N/M N/M -2.3 13.2 14.0 25.1 19.8 25.2 8.4 N/M 9.4 18.8 8.8 13.2 20.6

YIELD 2.60% 6.48% 0.00% 5.16% 0.00% 5.26% 0.00% 7.68% 3.57% 3.11% 4.99% 2.33% 4.00% 1.16% 4.45% 3.79% 3.15% 3.29% 4.53%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

MATURITY 19-Oct-2022 ############### 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

MUTUAL FUNDS 52WK HI 2.17 4.16 2.01 180.30 157.58 1.58 1.70 1.66 1.10 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.45 11.20

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.52 1.68 1.61 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.17 4.15 2.01 180.30 155.10 1.58 1.69 1.66 1.09 7.36 8.47 6.53 11.32 11.67 10.54 9.93 8.45 11.20

YTD% 12 MTH% 2.58% 4.11% 0.39% 5.07% 1.47% 2.34% 0.90% 3.44% 1.11% 6.05% 3.22% 4.22% -0.38% 3.34% 2.39% 4.01% -0.38% 0.53% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.61% 0.75% 1.13% N/A 2.95% N/A

NAV Date 31-Aug-2018 31-Aug-2018 31-Aug-2018 30-Jun-2018 30-Jun-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018

MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

Luciane Ribeiro Moreno Liquidator

THE TRIBUNE

Friday, October 19, 2018, PAGE 7

Job growth is found to be no cure for a community’s poverty BALTIMORE Associated Press A HEALTHY dose of job growth has long been seen as a likely cure for poverty. But new research suggests that poor Americans are frequently left behind even when their cities or communities benefit from hiring booms. When such cities as Atlanta and Charlotte enjoyed a job surge in the 20 years that began in 1990, for example, the job gains mostly bypassed residents — often African-American — who had been born into poverty. That is among the findings of a study led by Raj Chetty, a Harvard economist whose newly launched Opportunity Atlas found no association between job growth and economic mobility for poor residents of the affected areas. “Job growth is not sufficient by itself to create upward mobility,” Chetty said. “It’s almost as though racial disparities have been amplified by job growth.” His finding challenges much of the conventional thinking, of government officials, business executives and economists, that job gains are the surest way to lift up people in impoverished communities. President Donald Trump pledged to save neglected towns through “jobs, jobs, jobs”. His 2016 presidential rival, Hillary Clinton, asserted that government investments to foster hiring would help create “an economy that works for everyone”. Governors and mayors have traded tax breaks for pledges by companies to create jobs in distressed communities. But Chetty and his colleagues, whose atlas examined communities down to Census tract levels, found that economic mobility hinges more frequently on other factors. A person’s race, for example, plays a pivotal role. Economic mobility varied widely among people of different races who lived in the same neighborhoods in Los Angeles or Houston, among other places. Additionally, living

in neighbourhoods with many two-parent families improves the likelihood of emerging from poverty— even when someone was raised by a single parent. Mobility is often greater for children who come from neighbourhoods with higher-priced housing. And it’s generally better when a high proportion of adults in a neighbourhood are working, according to the analysis by Chetty; economists Nathaniel Hendren of Harvard and John Friedman of Brown University; and researchers Sonya Porter and Maggie Jones of the Census Bureau. In the two decades that ended in 2010, the Atlanta and Charlotte areas were flooded with jobs. But many of the people hired were moving to these areas, so people from poorer neighborhoods essentially got cut out of the boom. Metro Pittsburgh, on the other hand, lost jobs between 1990 and 2010, yet its residents’ economic mobility improved as the area became a nexus for college graduates working in technology and health care. In the Seattle area, the home of such corporate powerhouses as Amazon and Microsoft, both jobs and economic mobility grew over the same period. Disparities exist not just among metro areas but also among neighborhoods within the same city, according to an Associated Press examination of the data in the Opportunity Atlas. In Baltimore, the “Old Town” neighbourhood near Johns Hopkins Hospital is a mecca of entrepreneurship. The number of jobs there surged 21 percent between 2004 and 2013, compared with job growth of just 3.4

percent nationally. Yet the neighborhood is marked by abandoned storefronts, public housing and a 93 percent non-white population. More than half its residents live in poverty. And the Opportunity Atlas shows that a low-income child from that neighborhood is likely to become even poorer as an adult. For nearly four years, a programme called Turn Around Tuesday has been trying to address this mismatch between employers and residents in the neighborhood. Backed by the interfaith group Baltimoreans United in Leadership Development, the program seeks to match employers like Johns Hopkins to workers who have lived in poverty, have struggled with drug addiction or have criminal records but who are regarded as qualified for a job. Recently, about 40 people gathered in a church basement as Melvin Wilson, the co-director, offered a prayer before getting into the business of getting and holding onto steady work. “Pray for jobs,” he said. “Though we’ve created 555 living-wage jobs, you know, as we know, God, that’s not enough.” The gap in outcomes among Baltimore neighborhoods is hardly surprising to City Councilman Leon Pinkett, who represents a western slice of the city and has worked in economic development. “What the data does for us,” he said of the research, “is that it validates all the things that we know to be true: That many of the residents of these communities start at a deficit, and little is done through policy or

PUBLIC NOTICE

investments to assist them in closing that gap.” Part of the challenge is that even when poor communities manage to add jobs, residents who finally have reliable incomes often move to neighbourhoods with less crime and better housing. They, too, tend to seek a better quality of life. Octavia Mason, 53, has attended Turnaround Tuesday for the past nine months. She is a dedicated mother to her adult children, yet she lost her license as a pharmacy technician after a broken marriage led to drug use. She’s now on the path to regain her license and find work. But she hopes to leave the western Baltimore neighborhood where she grew up, which has stagnated because of unemployment, crime and a breakdown in trust. “There’s a lot of families that aren’t working — and you’ve got generations of that and that’s their normal,” she said.

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PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, KENLEY FERGUSON, of Miller Heights, New Providence, Bahamas intend to change my name to KENLEY TREVOR FERGUSON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, CATHERINE LOUISE SAWYER (NEE) ALBURY, of Treasure Cay, Abaco, Bahamas intend to change my name to KATHRYN LOUISE SAWYER (NEE) ALBURY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

I.T. Position Opportunity Position requirements include: • 3 years experience in the field along with CompTIA A+ and Network+ certifications • Must have 2 years experience with electronics and Soldering • Must be able to install and trouble-shoot Windows OS and Server 2008/12 • Experience in installing and configuring SQL server • Ability to communicate with end users • Flexible work hours • Ability to resolve problems independently with sound judgment All candidates must submit resumés to ITemployment@hotmail.com

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, LAKERA ROLLE, of Fox Hill, New Providence, Bahamas intend to change my name to LAKERA POITIER. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

A boutique Offshore Bank is seeking a candidate for the position of

FINANCIAL CONTROLLER whose functions includes but not limited to the following:

BOUYGUES BATIMENT INTERNATIONAL, MSC Ocean Cay Marine Reserve, is seeking for its

PROJECT ENVIRONMENTAL OFFICER POSITION SUMMARY:

KEY RESPONSIBILITIES: • Approve and sign income and expense accounts vouchers. • Monitor and review staff expenses and accounts payable. • Monthly preparation of management accounts and supplementary schedules. • Monthly/quarterly compilation of magnitude data and preparing reports. • Prepare weekly/monthly/quarterly financial statements and reports of the Group and submit same to Executive Management • Prepare and submit all financial reports to The Central Bank of The Bahamas, the Securities Commission and Department of Inland Revenue. • Prepare variance analysis. • Oversee and supervise the daily operations of the Finance department • Maintain effective cash flow management, time billing, client invoicing, accounts receivable and accounts payable systems • Assist in the preparation of Budget reports. • Assist in designated project reports. • Drafting Management Commentary • Assist in preparation of Board reports • Preparation of annual Financial Statements • Liaise with external auditors; accounting standards • Maintain Lease Agreement files and coordinate tenant issues

The candidate will be required to assist with the Company’s Environmental Management System (EMS) administration, incident reporting, corrective action follow up, Environmental audits and advisory functions to all project employees as required.

REQUIRED SKILLS REQUIRED: • Accounting Designations (CPA/CA/ACCA) • Bachelor’s Degree in Finance/Accounts • 7-10 years’ experience in a managerial Finance position • Advanced knowledge of MS suite • Superior numeric, writing and communication skills • Understanding of investment and private banking processes • Proven ability to work with others in a multi-faceted financial services institution

EXPERIENCE & QUALIFICATIONS:

Salary and benefits will commensurate with qualifications and experience. Suitable candidates should submit resumes to: Human Resources c/o The Tribune P.O.BOX N3207 DA 109576 Nassau, Bahamas

RESPONSABILITIES: • • • • • • • • • • • • •

• • • • • • • • • • •

Implement relevant environmental management programs. Conduct project site environmental impact assessments. Implement and maintain environmental education awareness programs. Ensure that environmental management system requirements are implemented and maintained and follow up on all aspects requiring legal compliance. Review and update Company’s environmental procedures and policies when necessary. Maintain a system of reporting environmental incidents and review of recommendations to rectify deviations. Conduct weekly and monthly environmental inspections and audits based on project requirements. Updating and delivering employee training programs related to hazardous materials and waste. Maintaining accurate records related to chemical inventories. Submitting clear and concise written reports based on field inspections. Recommending and coordinating the development of programs needed by the Company to comply with hazardous materials regulations. Provide support as needed on the execution of the Company Health & Safety Management System. Back up the Company’s Health & Safety Officer in the performing of his duties when required.

Bachelor’s degree or higher biological science and /or NEBOSH national Diploma in Environmental Management. Diploma or certificate on Health & Safety will be an asset. Minimum of 2 years’ experience in the field of environmental management (preferably Construction sites). Good verbal and written communication in English. Good knowledge on Health & Safety Management System & OHSAS 18001 Standards. Experience with waste and water management practices or with natural resource conservation. Working knowledge of ISO 14001 requirements and Local Bahamians Regulations. Experience with waste and water management practices or with natural resource conservation. Advanced computer literacy is essential. Technical knowledge of risk assessment and evaluation, environmental management tools, programs and systems. Effective interaction with clients, customers, officials, contractors and others

Please email resumes to recruitment@bouygues-bahamas.com for consideration