US$18M bonus scandal
As Guyanese continue to reel from the cloud of secrecy sounding the US$18million bonus from US oil giant ExxonMobil, the Opposition People’s Progressive Party is questioning the real motive behind the secrecy.
Opposition Leader Bharrat Jagdeo
Chartered Accountant Christopher Ram had previously revealed that Government had received a US$20 million bonus from ExxonMobil; however, despite denials from the Government, documents leaked to Guyana Times showed that a bonus was indeed received and put in an account at the Bank of Guyana.
However, it has turned out that US$18 million are in the hands of the state from ExxonMobil. On Saturday, reaffirming its General Secretary’s call for the Government to resign, the PPP questioned the Government’s real motive for secrecy.
The party stated that Guyana is being rocked by the worst scandal it has had to face in decades. It pointed out that the refusal by the Government to disclose the ExxonMobil signing bonus, the emphatic denial of its very existence by several ministers – including Finance Minister Winton Jordan — coupled with the disclosure that the bonus was received (and) unlawfully hidden from the public accounts, with no entry of same in the state accounting records, constitute infamy that would catapult any democratic Government out of office by resignation.
According to the party, this “outrageous ignominy” is exacerbated by the fact that the Guyanese population has had to endure hundreds of unprecedented new tax measures which have devastated their disposable income; and there have been no job creation policies but there has been unparalleled incompetence in Government.
The party added that there has been “nepotism, racism, discrimination, Government squander-mania, widespread dismissals in the sugar belt, and a deliberate refusal by the Government to assist the productive sectors, all of which are ailing in a stagnated economy.”
This, according to the party, happened while the Government “secretly paid themselves a 50 per cent increase in salaries, increased their per diem overseas travel allowance, now permit ministers to travel overseas with their spouses with taxpayers’ money, arrange for ministers to seek medical attention in Ireland with public funds, and equips almost each Minister with brand new sports utility vehicles.”
The party made no bones about its scepticism regarding the sincerity of Government’s promises of prosperity from the oil wealth for the ordinary citizen. According to the PPP, Guyanese are now witnessing that the first major payment from this sector was cloaked in secrecy and hidden from public scrutiny and the Treasury.
“This singularly fortuitous event should debunk the Government’s prophecy that the ordinary Guyanese will benefit from oil money. It should be clear to every sensible Guyanese that, like the “good life”, whatever oil money we received or are to receive, only the Government and their families and friends will enjoy it.”
Signing bonus
The shady transaction first came to light when Guyana Times published a leaked correspondence dated September 20, 2016 and addressed to the Governor of the Bank of Guyana with this subject: “Signing bonus granted by ExxonMobil – Request to open bank account.”
It shows that Finance Secretary at the Finance Ministry, Hector Butts, has requested that a foreign currency account be opened at the Bank in order to receive a deposit in the form of a ‘signing bonus’ to be given by ExxonMobil.
The letter stated, “This account should not be treated as part of the Bank’s reserves. Instead, the proceeds should be held in the currency of the deposit, that is United States dollars, and invested in secured interest-bearing securities.”
The missive also listed the signatories to the account as Finance Secretary at the Finance Ministry, Hector Butts; Deputy Finance Secretary, Louise Bouyea; Accountant General (Acting) Jawahar Persaud, and Deputy Accountant General Jennifer Chapman. The letter was also copied to Natural Resources Minister Raphael Trotman.
Condemnation has already flowed in from the Transparency Institute of Guyana Incorporated (TIGI) and from Ram himself. The Government has been slammed for being given the opportunity, but refusing, to come clean on several occasions.
After the fact, Natural Resources Minister Raphael Trotman defended the secrecy by saying the money would be used to defend Guyana’s sovereignty in the legal process.
