Premier Denies Withholding Bank Report
Premier Dr Natalio Wheatley has rejected claims that the government is withholding an internal audit into the collapse of Bank of Asia. He said the report is not being deliberately kept from the public and that the government will address its findings at a future press conference after following the proper legislative process.
Premier Dr Natalio Wheatley has denied accusations that he is withholding the findings of an internal audit probing the government’s deposit of public funds into the now-defunct Bank of Asia. Asked at a recent press conference whether the audit had been completed months earlier and was being kept from the public, Dr Wheatley rejected the timeline and the suggestion of deliberate delay. "Six to seven months ago?
I don't think that's the case," he said, adding later, "No, no, no. That's not the case at all." The Premier said he would review earlier statements to verify when the report was finished and stressed the government had no intention of concealing its findings. "As I promised this time, of course, next press conference, we'll say something about that report.
He also indicated he needed to consult with the financial secretary before setting a release date, citing the need to align with the legislative process. Bank of Asia, which received its BVI licence in 2018, entered liquidation proceedings in 2024 following regulatory concerns. The matter drew public attention when it was revealed that $5 million in public funds had been deposited into the bank before its collapse.
That disclosure has prompted questions from lawmakers and residents about who authorised the deposits and what internal safeguards were in place to protect public money. Calls for transparency have come from across the political spectrum and the wider community, with many awaiting the internal review's findings to determine whether errors or misconduct occurred and to inform any follow-up measures.
The Premier's assurance that the government is not concealing the report will be closely watched against the review's eventual release and any actions recommended by its authors. Dr Wheatley stopped short of committing to a one-week turnaround when pressed about a quick release, stressing that he would not promise a timeline that might conflict with required procedures.
For residents concerned about public finances, the coming weeks will be important for clarity: the internal audit's conclusions could affect public trust in financial governance and guide any legislative or administrative responses. As the government prepares to present the findings, lawmakers, watchdogs and members of the public will be looking for a clear account of what happened, who authorised the deposits, and what safeguards will be put in place to prevent similar incidents in the future.
Primary source: BVI News