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FNPF trial continues

April 11, 2012 5:42 am

The former board member of the Fiji National Provident Fund – Himmat Lodhia has finished giving evidence in the case against former FNPF chief executive Olota Rokovunisei.

Rokovunisei is charged with extortion of funds and abuse of office.

During cross examination today Lodhia told the High Court it took the board seven months to appoint a new chief investment officer as the post required expertise and skills to handle FNPF’s billion dollar investments in 2006.

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Defence lawyer Samanunu Vaniqi asked Lodhia whether he knew that the CIO’S base salary was $250,000.

Lodhia replied he did not know and that the person that would best know is the chief executive as he was in the interviewing panel.

Lohdia told the Court that the Board endorsed the recruitment of the new chief investment officer with the recommendation from the KPMG – a consultancy firm.

The trial continues tomorrow and an officer from the Higher Salaries Commission will give evidence.

The trial is expected to take three weeks.

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