Inquiry directs Bakani to provide witnesses

National

By HELEN TARAWA
THE Royal Commission of Inquiry (COI) into the Union Bank of Switzerland (UBS) loan deal has directed Central Bank Governor Loi Bakani to provide a list of witnesses and documents to the commission before July 3.
COI chairman Sir Salamo Injia told the inquiry that Bakani would be required to provide evidence on part one of the inquiry which was the historical background information on the UBS loan.
Bakani told the inquiry that he would require about two weeks to put together the information, especially on the UBS loan, but not the International Petroleum Investment Company (IPIC) as the bank was not involved in that loan.
Bakani said the Central Bank had all the files which would be provided in any form either electronic or hard copy.
He said even if the bank had information about the UBS loan only, he would also provide anything related to the IPIC loan as well.
“During the time that these loans were taken, that was the thinking in terms of equity in government participation in resource projects,” he said.
“It is, therefore, very important to understand the logic of these things.
“You are putting things into very good perspective and it goes in line with the vision of the government of the day.
“Commercial-wise it’s a different thing and basic understanding of the policy of government of the day is important.
“I will provide anything I have on hand to support the commission’s work in this area.”
The case was adjourned to July 3.
Meanwhile, the inquiry also directed National and Supreme Court Registrar Ian Augerea to provide court proceedings and records related to the UBS loan.
Sir Salamo said there were a number of court proceedings regarding the UBS loan that had been brought to the commission’s attention.
Augerea was asked to provide physical documents from the court files, audio recordings of proceedings and transcripts.
Augerea said his office was yet to locate the physical files of the court proceedings as well as the leadership tribunal files, however, there were electronic copies available.
He said he would liaise with the court reporting services team to provide a list of the dates on the court proceedings conducted on each of those cases indicated.
The matter was adjourned to June 26.