Showing posts with label Bahamian people. Show all posts
Showing posts with label Bahamian people. Show all posts

Monday, September 28, 2026

THE NATIONAL INVESTMENT FUND (NIF) OF THE BAHAMAS: DOES THE BAHAMAS GOVERNMENT'S EXPLANATION ADD UP?


Questions for The Bahamas Government on Spending The Bahamas National Investment Fund (NIF) Money

National Investment Fund Bahamas


THE NIF: DOES THE GOVERNMENT'S EXPLANATION ADD UP?


By Lynden R. Nairn:
Nassau, N.P., The Bahamas



The Government wants us to believe that:

1. It established the NIF in 2023 but failed to make it operational.

2. In 2025, it authorised borrowing of up to $300 million to fund the NIF.

3. Because the NIF was not operational, the Ministry of Finance spent the money instead.

4. Despite knowing this, it proposed a further $700 million for the same Fund in May 2026.

Here is the question: If the NIF could not spend the first $300 million, why would the Government propose giving it another $700 million?

We are talking about experienced Cabinet Ministers with access to the country's top legal and financial advisers.  Surely, they knew the Fund was not operational when they proposed the first and most certainly the additional funding.

Why has it taken more than three years to get the Fund operational?  Who authorised the spending, and where is the full accounting?

The Government owes the Bahamian people an explanation. Saying the Ministry of Finance spent the money on infrastructure projects is not good enough.


Source / Comment

Tuesday, March 10, 2026

The Governing Mechanisms of the Hawksbill Creek Agreement - Freeport, Grand Bahama Island, The Bahamas


Hawksbill Creek Agreement





The Freeport Arbitration — Let Us Be Clear About What Was Actually Decided



Over the past several days I have watched the national conversation about the Freeport arbitration move in every direction except the one that matters.


- Headlines.

- Political commentary.

- Institutional statements.

- Social media arguments.


Almost all of it is circling the wrong question.


The public has been encouraged to believe this was about who won.


It was not.


The arbitration between the Government of The Bahamas and the Grand Bahama Port Authority was about something far more fundamental: whether the governing mechanisms of the Hawksbill Creek Agreement were ever properly used.

And the tribunal’s answer was clear.

They were not.


⸻


Let us speak plainly.


The Government said the Port Authority owed $357 million.


The Port Authority said the Government’s actions caused $1 billion in losses.


Both numbers were placed before the tribunal.


And both numbers failed.


Not because the tribunal determined that one side was innocent and the other guilty.


But because the mechanism required by the Hawksbill Creek Agreement to determine those numbers had not been properly used.


The Agreement itself provides the process.


A review mechanism exists to determine what the Port Authority must contribute toward administrative expenses in Freeport.


That mechanism was supposed to be activated and used to determine the figures.


It was not.


And without that mechanism being used, the tribunal could not simply endorse either side’s financial claim.


That is why the numbers collapsed.


⸻


This is the central point.


The arbitration did not determine that no obligations exist.


The arbitration determined that the proper process must be followed before anyone can quantify those obligations.


That is the entire case.


And that is what many of the public discussions are missing.


⸻


Bahamians should be careful.


Do not allow political narratives or institutional messaging to distort what the tribunal actually said.


Do not allow this to be reduced to slogans.


And do not allow anyone to convince you that a complex governance dispute can be explained with a headline.


The tribunal did something far more serious than declaring a winner.


It forced both parties back into the legal architecture of the Hawksbill Creek Agreement.


The message was simple:


Use the mechanism that already exists.

Follow the Agreement.

Determine the numbers properly.


⸻


The real work begins now.


If the review mechanism is finally activated and properly applied, then — and only then — will the Bahamian people know:


• what the Port Authority must contribute,

• what the Government may legitimately claim, and

• what the financial relationship within Freeport should actually be.


Until that process runs its course, all claims about who owes what remain speculation.


⸻


My earlier statement made this clear.


This arbitration was not about personalities.


It was not about politics.


And it was not about headlines.


It was about process, structure, and the rule-based governance system that underpins Freeport itself.


Bahamians deserve clarity, not confusion.


Let us deal with the law as it is — not as anyone wishes it to be.


⸻

Tuesday, 10 March 2026 — 11:20 AM (EST)


With Professional Respect Asé


CRAIG F. BUTLER ESQ.

Constitutional Theorist

Pan-African Methodology

Electronic, Disability-Accommodated Chambers Practice

Commonwealth of The Bahamas


Source / Comment