September 22, 2013


Recent allegations that NICIL is acting outside of its preview is an irresponsible claim by the Leader of the APNU, Daivid Granger.


Before such uneducated and ludicrous claims are made, it would be advisable for Mr. Granger to consult with his colleague, Carl Greenidge, who created NICIL in July 1990 when he was Minister of Finance.

NICIL has maintained accountability to the public by submitting its audited accounts through the Auditor General’s office to the National Assembly. All of NICIL’s Audited Accounts can be found on the company’s website including the 2010 audited report. Claims by Mr. Granger, that government and state funds are being disbursed without accountability is therefore baseless and untrue.

NICIL is a fully incorporated company bounded by the Companies Act of 1991 to generate its own income and therefore has the authority to use such funds at the discretion of its Board and governing body. As such, NICIL does not require permission from the National Assembly on projects it undertakes, contrary to Mr. Granger’s claims.


NICIL continues to adhere to the Laws of Guyana and is committed to accountability within the parameters of the Companies Act, and its governing body, the Government of Guyana.


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