How Safe is your money?

The Fiji National Provident Fund, which started in the 1960s thanks to
that stalwart champion of the people, AD Patel, is where more than 331,000
of Fiji’s workers have their futures invested. When the SDL Government
seemed to be using it as a source of budget funding, a lot of people
became worried.

But now it’s time to really worry. The Illegal Regime which seized control
of Fiji’s government apparatus is steadily destroying the value of those
investments.

For a start, as a direct result of the coup, the economy of Fiji has been
put into reverse. Jobs have been lost, pays have been cut and business
profits slashed. All FNPF investments in the Fiji economy have had
millions slashed from their potential worth. We all understand that
because we’ve all been part of it in one way or another (all. that is,
except the coup beneficiaries who’ve taken other people’s jobs or, like
Frank, have money from unexplained sources landing in their bank
accounts).

Then there are all the debts of the Fiji Government to the FNPF. With
inflation running out of control, the value of all Fiji dollar assets, such
as the debts to the Government are depreciated. That’s running at about 6
or 7 percent at the moment.

One final worry. The FNPF stake in Natadola has been hijacked by the IG
for reasons that no-one knows anything about. They saw potential profits
and they wanted a piece of action for themselves, so they pushed out the
existing contractor (APRIL) and inserted one of their own. You can be sure
that the aim is to make money for IG cronies, not the FNPF.

Investment is already way down as a result of the coup. You can be sure
that every business man who can is smuggling funds out of Fiji – hence the
draconian exchange controls.

So to the 331,000 or more members of the FNPF I say: do everything you can
to get rid of the illegal government that has hijacked Fiji because you
have the most to lose from their illegal, incompetent hijacking. It’s your
future that they are stealing.

CORRUPTION FIGHTER

11 Responses to “How Safe is your money?”

  1. Budhau Says:

    Corruption Fighter when you decide to write such pieces, get some facts together. Scare tactics ain’t gonna work – those 331 K folks will not just rise and get rid of this IG just because you say so.

    So did anyone of you complained when SDL was using the fund’s money as a source of budget funding. Is the IG doing the same.
    ..and why did they fire APRIL?
    Those Fiji Government debt to the FNPF – who created those debt.
    Is there any evidence that Frank has money from unexplained sources landing in his bank accounts.

    As far as the FNPF is concerned, I think you can trust some union types more than Qarase. Of course there is a down turn after every coup, and this one is no different.

  2. Dauvavana Says:

    Nuni Pio

  3. FijiGirl Says:

    Corruption Fighter – Great idea!

    Everyone, try your hardest to get your FNPF funds OUT as soon as possible.

    Tell them you’re getting married, retiring, economically destitute, migrating, whatever you need to GET YOUR MONEY OUT.

    We must bleed this regime of any access to the nations funds, including FNPF.

    You can always re-invest your money AFTER we finally have free and fair elections under our current Constitution (just make sure you don’t spend it all at once!)

    Benefits – it will drain funds, clog up the system (especially if we all ask at once), and send Chodo into a panic. Ha! 8)

    God bless Fiji

  4. Tim Says:

    @ Budhau : I thought we were all stupid and you were going to give up on us and stand for election.
    I note the mention of “union types”. Where did that come from? Most decent unions would be ashamed to be associated with blatant rip-offs or people that profess to represent them, the knife them in the back.
    Indeed, were they to have been involved in one or two I held membership of, they’d have been necked by now and dumped in he harbour.

  5. Barafen Says:

    A repost that shows how overseas investors now view Fiji

    The IP is proudly stating that Fiji will be selfsufficient in dairy products by 2017 but the reality is that this will not happen unless there is overseas expertise and investment in the industry. The one bright spot in the current industry is Dairy Farms Fiji with New Zealand Investment at a scale that has an effect on the industry. This was a SDL driven initiative on the old Viti Corps land at Navua. However I have been sent an email from a friend in Auckland with the Board Meeting record of DFF for May 2008 showing they wish to Quit Fiji. This has been reinforced by an advertisment in NZ for the sale of DFF. The advertisment can be seen on the Wrightson Real Estate website. Keyword Fiji. So much for a developing industry.

  6. natewaprince Says:

    Hmmmmmmmm…. boi bociboci na vanua qo.

  7. natewaprince Says:

    Sa dua na ka na va kilakila e tiko vei raboci qo o Bud.Ka kece ga da veitalanoa taka,e ciqi mai kina o sona me va calai keda tiko.Sa vaka saraga e tamata vuku,luveni qala boci.

  8. Mossad Says:

    LQ was elected and every decision made by him was legal, can’t say the same for Mahen ChoroChoro’s crew. Can we really trust the workers funds with someone like Mahen ChoroChoro who swindled over $2million at the last count of money destined for the hopeless sugar farmers. Its one thing to take money from the rich, but when you destroy peoples hope, especially your own kin, now thats the worst kind……..and @ Budhau, I’m still waiting for your response to my question.

    Does Mahen ChoroChoro have any academic qualifications,if any, that will reassure people of his ability & know how to run Fiji’s premier ministry?

  9. Peace Pipe Says:

    This is around the time that FNPF rounds up their fiscal year and pronounce the interest rate that would be given to members. It has been 6% plus consistently over the years. What would it be this year I wonder. Won’t be surprised if it is lower this year since a lot of FNPF investments are floundering or at a standstill eg Natadola and the new multi-million FIRCA complex. I would however be surpised if it was the same or higher.

  10. Tiger Says:

    Dr Maha Chodo has a doctorate from Hariyana Uni.

  11. Mossad Says:

    @ tiger…….Doctorate in Pilfering & misleading……..

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