Premier Dr Natalio Wheatley has rejected responsibility for taking action against staff involved in placing $5 million into the now-defunct Bank of Asia without proper approval, telling the House of Assembly that such matters rest with the Governor under the constitution.
Former Accountant General Arnold J. Ainsley moved the funds on January 22, 2025, bypassing the ministerial sign-off required by the Public Finance Management Act. Dr Wheatley said he learned of the transaction only shortly before the bank's regulatory wind-down became public in May 2025.
Sixth District Representative Myron Walwyn challenged the Premier repeatedly over the absence of any consequences. Dr Wheatley clarified that ministers have no authority over discipline: "It's important to note ministers of government are not responsible for any form of discipline. That falls under the terms and conditions of employment: constitutional responsibility of the Governor."
Walwyn expressed frustration at the outcome. "You can't just have somebody take $5 million of public funds, act ultra vires (breach) the Act and then there are no implications," he said.
The Premier outlined steps already taken: he commissioned an internal audit and backed the Auditor General's recommendations, which could lead to referral to the Director of Public Prosecutions. "I choose to allow the Auditor General to do her job, and I do mine," Dr Wheatley stated.
Government officials expect to recover the full $5 million as the bank undergoes liquidation and asset sales. The Auditor General's final report has not yet been submitted to Cabinet but will reach the House once available.
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