VNPF inquiry learns of zero return from Vt300M investment in Club Vanuatu

VNPF Building, Port Vila. Photo: Jean Van Jean

VNPF Building, Port Vila. Photo: Jean Van Jean

The official inquiry into the Vanuatu National Provident Fund has learned that the VNPF’s failed investment in the now defunct Club Vanuatu cost the Fund over Vt 300 million and earned zero returns for members. There would appear to be a wide level of incompetence at work within the VNPF. (Daily Post)

The Vanuatu and Australian governments have signed a gender protection and recovery agreement which has been coordinated under the Department of Women’s Affairs to ensure the less abled members of our communities, especially women and children, are targeted. Outgoing Australian High Commissioner Jeremy Bruer spoke of the desirability of the Vt 158 million expenditure on Radio Vanuatu News today, and the special impact which could be achieved by the project. He stressed the need for recovery after the events like Cyclone Pam. The Vanuatu Government through parliamentary secretary Johnny Koanapo paid a tribute to Australia’s generosity.

A high-risk detainee has this week escaped from the detention centre, allegedly with the assistance of a hacksaw. Twenty-nine years of age, Jack Nalau is serving 35 years of imprisonment for crimes including intentional homicide, unlawful entry and premeditated homicide.

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