Former National Insurance Board (NIB) member Nicole Martin said yesterday the bonuses that NIB executives received were “outrageous”, adding that she never would have approved such exorbitant amounts if the issue had come up during the meetings.
Martin, a trade unionist, was one of 11 members of the NIB board appointed by former Prime Minister Hubert Ingraham.
“They are quite interesting,” she said, referring to the amounts of money.
“I know it has been asserted that we approved those, but based on my recollection [and after consulting] my minutes, there was nothing presented to the board to indicate any individual bonuses at that magnitude. So it’s quite interesting.”
Had the bonuses been presented to the board, Martin said she would have objected to them.
“I am a trade unionist and part of what we would have talked about from time to time is the negotiations for the line workers at NIB and the union,” she said.
“So I’m certain if that had come up I would have objected to it on the basis that bonuses need to be applied across the board and they need to be applied in a way that everyone is recognized for the outstanding contributions that they would have made throughout the year.”
The Nassau Guardian reported earlier this week that eight NIB executives and one person on contract took home bonuses totaling $723,333 between January 2010 and May 2012.
NIB Director Algernon Cargill took home $194,791.66 in bonuses during that period, according to information made public in recent days.
According to the information, Cargill and other NIB executives received six bonus payments between January 8, 2010 and May 1, 2012.
Martin acknowledged that it is not uncommon for executives to receive higher bonuses than line staff.
However, she said “that kind of difference is unconscionable for me to even consider”.
Former NIB Chairman Patrick Ward told The Nassau Guardian last week that the bonuses paid to NIB executives were reasonable and had the necessary authorization before they were paid out.
But Martin indicated that NIB’s board only approved an overall budget. She said no individual contracts were provided.
“Certainly I don’t have any information on any of that. And I referred to my minutes to reconfirm,” she said.
Martin’s statement came days after former board member John Pinder spoke out on the issue.
Pinder said he was “shocked” by the amount paid out.
“I can’t tell you that I, John Pinder, would have approved that amount of bonus being paid to any individual — no; not for a fund that was in some sort of jeopardy of being depleted in 20 years or so. I certainly wouldn’t have had the conscience to agree to that amount being paid. I couldn’t have done that,” he said.
In addition to Ward, Martin and Pinder, other members of the board were Belinda Wilson, Robert Sands, Fr. Etienne Bowleg, Brian Nutt, Evan Dean, Van Diah, Debbie Ferguson and Dr. Robin Roberts.
By Krystel Rolle
Guardian Staff Reporter
