NDB CHAIRMAN'S K40-K50 MILLION CONFLICT OF INTEREST
by M.J.PASSINGAN The Prime Minister and Minister responsible Hon Duma as trustees of our State Enterprises must come out clean on what is happening at the National Development Bank. Sources reveal that the NDB Board Chairman, Mr. Seeto is a beneficiary of a large contract from KCH involving one of NDB's subsidiaries, People's Micro Bank Limited (PMBL). The Marape Government through its Minister responsible, Hon. Duma recently announced the approval of a new banking entity which will be created from the commercialization of PMBL. What was not announced was Mr. Seeto will be featuring heavily in implementing this with a contract of 40-50 million kina. Mr. Darrell Seeto has been perfectly set up in a dream job. He will oversee the commercialization of PMBL as Chairman of the NDB Board and a service provider in what is a clear example of blatant abuse of power and fiducial responsibility. Sources also indicate that the NDB Board is highly comprised, and its Chairman is "run