As the saga over the past management of the Guyana Public Service Cooperative Credit Union Limited (GPSCCUL) continues, shareholders continued their protest at the body’s Hadfield Street, Georgetown headquarters on Monday, calling for greater accountability and transparency.
Gathered on Hadfield Street, Georgetown, these picketers were demanding transparency at the GPSCCUL
This call comes against the backdrop of High Court Judge Gino Persaud granting an injunction halting the work of an interim management committee as auditors continue their assessment of the GPSCCUL’S finances.
The shareholders, during their picket, said the evidence has been passed on to the relevant authorities as the multimillion-dollar probe gets underway. There are questions surrounding some $32 million in overseas travel and other “excessive” expenses. Some even alleged that a senior official at the Guyana Public Service Union (GPSU) paid out some $700,000 in bonuses to himself.
One member of the Credit Union, Randy Birkhead told Guyana Times that for all the years he has been paying his dues, he never saw any returns on his investment.
“We deserve to see accountability in the Credit Union, so [I] will be here as long as it takes. It has been years now and we are tired and fed up of it. I am part of Credit Union for five years and I have never seen any dividends – this is a real shame,” Birkhead highlighted.
Another member, Jermain Hermanstyne observed claims that documents were allegedly removed from the office. He too vowed to continue to advocate for transparency at the Union.
This publication was provided with a list of eight names of persons, which the picketers say are involved in the alleged financial improprieties.
In the meantime, Government-installed Chief Cooperatives Development Officer and Commissioner Perlina Gifth has been barred from assuming control of the Union until July 3, 2018 when the substantive case is expected to be heard at the High Court.
In late May, then Chairman of the GPSCCUL, Patricia Went vented her frustrations when it was revealed that Government installed the interim committee. “The Committee of Management objects to the actions of the purported Chief Cooperatives Development Officer, since there was no investigation into the affairs of the Credit Union to support the published conclusion and accusation of unsatisfactory performance,” she said last month.
She explained that the matter was rooted in the demand by the Department of Cooperatives for an undue payment to the Audit and Supervision Fund for the years 2002-2013 of an alleged balance of $49,691,682.
She, however, argued that the Department of Cooperatives’ claim of outstanding payments towards the Audit and Supervision Fund could not be justified, since the already audited accounts of the Credit Union for the years 2002 to 2010 reflected no such balance, as was claimed.
Chief Cooperatives Development Officer Gifth, according to Went, also failed to acknowledge the waivers, which were approved and granted by the previous Labour Minister, which were to date still in effect. The former Chairman said she considered the current Minister’s action a threat to “grab the funds of the Credit Union”.
At one point, the doors of the Credit Union’s building were locked as several documents were retained for assessment.
