4 May 2007

Fiji interim administration sacks more Unit Trust board members

9:42 am on 4 May 2007

Fiji's interim administration has sacked some board members of the Unit Trust of Fiji.

The Fiji Times reports that a letter signed by the interim minister for public enterprises Poseci Bune told the sacked board members their services were no longer required and that new members would be appointed.

The Unit Trust of Fiji board was chaired by Olota Rokovunisei, who was sacked as chief executive of the 2-billion US dollar Fiji National Provident Fund last month after an audit found he had used its funds to buy properties in Fiji and New Zealand.

The interim administration has changed the boards of many state organisations and companies as part of its clean-up campaign.

The Unit Trust of Fiji was the first such trust to be set up in which ordinary people could invest.