Premier Defends Response to Bank of Asia
Premier Dr Natalio Wheatley. Photo by GIS Premier Dr Natalio Wheatley has defended his handling of the controversial $5 million government deposit in the now-defunct Bank of Asia, explaining that disciplinary action against public officers falls outside his responsibility as Minister of Finance.
Photo by GIS Premier Dr Natalio Wheatley has defended his handling of the controversial $5 million government deposit in the now-defunct Bank of Asia, explaining that disciplinary action against public officers falls outside his responsibility as Minister of Finance. The Premier faced persistent questioning from Sixth District Representative Myron Walwyn in the House of Assembly over why no disciplinary action had been taken after the money was deposited without ministerial approval.
Dr Wheatley confirmed that the $5 million was deposited on January 22, 2025, by former Accountant General Arnold J. Ainsley, without the statutory approval required under the Public Finance Management Act. He said he only became aware of the transaction shortly before the bank’s regulatory wind-down was announced in May 2025.
However, when Walwyn pressed the Premier on whether he had recommended disciplinary action for the unauthorised transaction, the Premier explained that was not his responsibility. “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,” Dr Wheatley responded, explaining that such matters fall under the constitutional arrangements governing public service employment.
However, Walwyn was seemingly dissatisfied with the leader’s response. “You can’t just have somebody take $5 million of public funds, act ultra vires (breach) the Act and then there are no implications,” Walwyn argued. In response, Premier Wheatley said he had ordered an internal audit and endorsed recommendations made by the Auditor General, who could refer matters to the Director of Public Prosecutions if necessary. “I choose to allow the Auditor General to do her job, and I do mine,” the Premier stated.
The Premier also disclosed that the government remains hopeful of recovering the entire $5 million through the bank’s ongoing liquidation and sale process. He said the Auditor General’s final report had not yet reached Cabinet but would be forwarded to the House once received.
Primary source: BVI News