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T R I B U N E 2 4 2 . C O M
Biggest And Best!
Volume: 120 No.275, December 29, 2022
THE PEOPLE’S PAPER: PRICE–$1
GOVT ‘WILL HAVE TO MAKE NIB DECISION’
Minister insists all options are being considered over fund By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net MYLES Laroda, Minister of State with responsibility for the National Insurance Board, said yesterday the government will have to make a decision next year concerning the state of NIB’s fund, which he says remains on target to lose about $70m this year. In the meantime, he said the government will continue considering its options on how it can ensure the fund’s sustainability. These options include cutting back on costs or
raising revenue or doing both, he added. “The fund is no better, or no worse than the last time we spoke,” Mr Laroda told reporters when asked for an update on the agency’s financial position before yesterday’s Cabinet meeting. “The government is going to have to make a decision in the upcoming year as to what its position is going to be as we move forward as it relates to the increase. I think the fund is on pace to lose around $70m plus this year, that’s about $6m a month.” SEE PAGE THREE
MUNROE SIGNALS AIM TO SPEED UP COURT CASES By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net GOVERNMENT is seeking to reintroduce the Swift Justice programme to help speed up court cases, National Security Minister Wayne Munroe said yesterday. He also revealed that the government is hoping to form a task force in the first
quarter of next year to deal with the backlog of criminal cases. “Justice must be delivered, but justice must also happen on a timely basis,” Mr Munroe told reporters yesterday before going to a Cabinet meeting. “Swift Justice was just a moniker that the previous PLP administration used.” SEE PAGE FOUR
FISHING HOLE BRIDGE CLOSED FOR SAFETY By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net THE Fishing Hole Bridge in Grand Bahama was closed on Wednesday evening due to safety concerns because of hazardous driving conditions experienced and engineering issues in the road construction. The bridge was closed around 6pm to vehicular traffic and will undergo emergency remediation work over the next two months. In the meantime, a secondary road beneath the bridge has been prepared and reopened to provide access to motorists travelling to
and from west Grand Bahama. The Tribune contacted Permanent Secretary Luther Smith who confirmed that the Ministry of Works and the GB Port Authority’s City Maintenance of Building and Development Services, had reached an understanding to close the Fishing Hole Bridge after a combination of issues were discovered there. He said: “There is an immediate oil slick and other environmental hazards, but there is an engineering issue in that the road was covered with concrete rather than an asphalt surface.” SEE PAGE FIVE
GRAND Bahama Port Authority officials conduct preparatory work on the secondary/old road below the bridge to provide access to and from west Grand Bahama while Fishing Hole Road Bridge is closed for emergency remediation work after public safety concerns were discovered there in the past week. Photo: Vandyke Hepburn
CENTRAL BANK WANTS STRICTER DUE DILIGENCE TO STOP ANOTHER FTX By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Central Bank of The Bahamas has called for stricter due diligence on the transfer of funds in the wake of the FTX collapse. The call comes in the bank’s newly released Draft Digital Assets Guidelines.
Due to the collapse of the FTX crypto-exchange, The Bahamas has been raked over the coals in international media, with criticisms suggesting a slack digital assets regulatory regime, with much criticism directed at the Securities Commission of The Bahamas. FULL STORY - SEE BUSINESS
‘BACK TO THE DRAWING BOARD’ FOR SAXONS By LETRE SWEETING lsweeting@tribunemedia.net AFTER a fifth-place finish at this year’s Boxing Day parade, a representative for the Saxons Superstars conceded that the group has to go “back to the drawing board”. Kendenique CampbellMoss, the group’s public relations director, said the group had some challenges, including the weather and being first in the line-up.
THE SAXONS on Bay Street. One Family took the coveted crown with its “Rise of the Warriors” theme after a show stopping performance on Bay Street,
according to unofficial parade results. The Valley Boys came second, Genesis Warhawks came third and Roots placed fourth. Meanwhile, the Saxons placed fifth with 84.79 points and Music Makers rounded out the top six. It was a disappointing finish for the Saxons, which was announced as the official winner of the 2019 Boxing Day Parade after a penalty reversal. SEE PAGE TWO
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