#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Reserve Bank announces Reddy's resignation

Thursday, December 9, 2010

Reserve Bank announces Reddy's resignation

Fiji's Reserve Bank has confirmed  what Coupfourpointfive revealed on November 12th, that the Reserve Bank Governor Sada Reddy, is no longer at his post.

In a press release issued today, the chairman of the Reserve Bank Board Governance Sub Committee, Mr. Deo Saran, said he had received Reddy's notice of resignation with immediate effect.
 
The Deputy Governor, Mr. Barry Whiteside, will act as Governor until further notice.
 
According to highly reliable sources inside the Reserve Bank, Reddy had allegedly transferred thousands of dollars to his private bank account in New Zealand last year, shortly before he devalued the valueless Fijian dollar.

On 9 April 2009, the Fiji dollar lost its value by 20 per cent. So while the poor feared more hunger and loss of employment, the man who devalued the Fiji dollar had the previous day allegedly secretly funnelled his own money, to the tune of $850,000 into his New Zealand private bank account, where his family reside, and he holds permanent residency.


The RBF’s Financial Intelligence Unit, tasked with the job of  monitor money-laundering, according to the reliable bank sources, turned a blind eye to the alleged money transfer.


29 comments:

Anonymous said...

Boring..and didn't SA DA Reddy give $20million of our FNPF money to Deo Saran to ease FSC's cash flow? For Deo was not only CEO of FSC at that time but also SA DA's boss at RBF. If Deo has any ethics, he should be stepping down from his current role at RBF! I hope Barry has the balls to take RBF back to its proper role - that of a monitor and not an implementor.

Bauhaus. said...

Fiji Iceberg - Criminal Sanctuary.

This is only the tip - questions need to be asked about his knowledge or possible involvement
in the $200 million Suva container heist? PR status says a lot about current NZ immigration policy - attitude (contempt)towards Viti.

Anonymous said...

Wonder if RBF Financial Intelligence Unit members will suffer same fate as the 2 lawyers? Somehow doubt it - say they have 2 much on 2 many?

Anonymous said...

Not racist - reality.

Don't want the RBF to go the same way as FSC? Get "all Kai Dia" out of executives positions asap.

Anonymous said...

Sada Reddy is a dumbass idiot and conman who will walk away with millions at the expense of the Fiji people.

His track record is dismal and his policies are highly unethical because he only took the job out of self interest. His legacy is the insignificant value of the Fiji dollar today,the RBF tax evasion "home ownership in Fiji" investment scheme,releasing of funds to help the misguided regime pay the wages of public servants,weak control of retail end interest rate policies for ordinary consumers,bankrupt foreign reserves,withdrawing of precious foreign investments to fill empty coffers, nepotism and the list goes on.

At the end of the day he will be credited for making Fiji a failed state....bastard!!!

Anonymous said...

Just as this Govt is very good at sacking people on the spot, why hasn't the RBF fired the head of the unit that had turned a blind eye to SA DA's misdeed?

Dead man walking said...

Bhaini - what was that you were telling us about no corruption?......farking deadsh....t criminal!
Tik...Tok...Tik..Tok...

Anonymous said...

Another kaidia shafted you dumb arse i-taukeis. Wake up dickheads, esp. "io saka khaiyum" military eunuchs.

Anonymous said...

Wasn't Victor Lal, another 'Kai India' who actually exposed the crook Sada Reddy on 12 November on C4/5. Lets hope more is disclosed against these fly by night thieves who wrapped themselves in Baini's underwear, claiming they had come to make Fiji a race-free country. Remember Victor's another Kai India victim, the $2million crook Mahen - its nothing to do with 'Kai India's being shafted - Keep Up the good work C4/5 and Victor Lal

Anonymous said...

People like this make us Indians look bad! @ the end of it all they'll say that an Indian CROOKED the Fiji Islands. But the real Indians are the ones struggling to make ends meet unfortunately we'll all be cast as 1! Most unfortunate indeed....

Anonymous said...

Same feather will always flock together..Reddy/Baini/Khayum and all ministers...All bunch of con man and self centered people full of corruption.Wheres the clean up campaign

Anonymous said...

sada has resign.
what a joke.shifted his dollars quietly.
now ag should charge sada reddy like they charged mahen chaudary.
no they wont.they were partners in crime.
govt took money from rbf to pay salaries/fsc/nam road contract.so they get their cuts.

Anonymous said...

Let us not subscribe to rumour, gossip and innuendo. We all beieve in freedom of information. Sada Reddy is perhaps the best Governor of RBF we have had. We will miss his sound and fearless advice. Sada's family did transfer money to NZ but not weeks or days before the coup but legitimately when, like many other of our people of all races, migrated to New Zealnd more than four years ago. His demise has nothing to do with such baseless allegations but it relates to a mutiny or a coup by junior staff in RBF who did not like his leadership or did not agree with his advice. The buck stopped with the Governor. He distilled all advice and the final advice was always his to defend. It can be lonely at the top. Fearless advice is not bad advice. Many Fijians in Fiji and abroad wish you and your family well. We know you will continue to serve Fiji to the best of your ability and conviction.

Anonymous

Anonymous said...

Sorry, the word "coup" in my earlier mail should read "devaluation" in the sentence "Sada's family did transfer money to NZ but not weeks or days before the coup (devaluation) but legitimately..."

Thank you for publishing my comments.

Anonymous said...

@ Anony 10:16 - are you f.... kidding me!
You're probably Sada himself trying to justify your theft and lies! You're crooked just like the way you've acquired that property in RAkiraki & everything else you've ever owned! You're nothing but a SNAKE! A SLITHERING SNAKE!

Anonymous said...

@ Anony 11:38. And you must be one of the faceless person who stabbed a good man in the back. Don't make it a habit. Et tu Brutus. Let us all work together and re-gather to help build a new and better Fiji, not to destroy. We are all one and will remain one.

Anonymous said...

Siwatibau was the best and MOST EFFECTIVE Governor of RBF!

Anonymous said...

Anon 3:38. (re kia dia).

Point taken - appologies VL -shotgun remarks born from frustration with upper echelons of Kia Dia society in Viti - those who have (had) it within their power to implemet real change - for evertbody. Taukei are not natural businessmen - Kia Dia are -& what has transpired recently is incomprehensible? FSC - RBF - right now overwhelming Taukei perception is that the majority
of Kia Dia executives in public service are eitheir incompetent or untrustworthy - combination of both . RBF. What happened to executive responsibility & integrity? This is not some Indian corner store - this is all Viti's
money. Why didn't the whole executive & board accept responsibility and immediately & publicly submit their collective resignation? FSC. Immediate cause
cause of problem? Kai Dia's continuing love affair with India -
instead of reconising source of problem - FSC Kai Dia executives returning to well for another expensive dip? Now the media's started saying problems at FSC are the Taukei's fault - "land issues". As for the Cobra - what else can be written? If a walking talking career criminal & covert Indian nationalist is the best Kia Dia political can offer Viti - your stay will be a short one.

Anonymous said...

Well done Sada Reddy. You sure are a smart and coniving man who took advantage of the bunch of IG nitwits. I would have done the same.
If they do it, its ok. If WE do it it is CORRUPTION & ABUSE OF OFFICE.
'BLESSING GRANT O GOD OF NATIONS'

mongoose madness said...

The rampant kiadia bony butts have bent themselves over and reemed their own butts!!! Wankers!!!
Bye Bye sugar!!! Not 1 sq metre of land!!! Bhaini roti boy...Tik Tok...

Anonymous said...

Anonymous 4:14 and mongoose 10:35 why do you have to play your race card again and always. There are so many good and bad stories to tell about each one of us from all our races in Fiji because they are all individuals. I see Fijians of Indian decent today who take all risks and run business being the largest employers of all our people and believing in equal opportunity for all. Again, those of us who know Sada Reddy, he was a good public servant who worked in the national interest for us all. He did not do a swifty. Let us look for truth and not give life to rumours and gossips, our national sport now.

Anonymous said...

Anon 12:04.
Interesting how long standing - documented - Indian stance of domination of Viti has now suddenly become equal oppurtunity? This equality include land & recources? Lets get this straight - Kai Dia are not Fijians and never will be -you are simply "Indians born in Viti". As for your observations re Reddy being "a good public servant - didn't do a swifty". Unbelievable.

nadina said...

Mangoose madness- Do not blame the kai idia. Blame the Fijian leaders - start with dumb nitwit Frank. I am a itaukei. I am surprised at such comments.
If anything blame the MUSLIMS!!

nadina said...

Vinaka Bhaiya! You have shown one and all what a bunch of ulukaus that they are.You sure pulled the wool over their eyes!

Anonymous said...

Anon 9:56 AM
Behold how good,
And how pleasant it is,
For brethren to dwell
Together in unity.

Anonymous said...

Ci!! susuga tiko na gata.
O sauriva ga tasisi na gata.
Good one Frank - you sure fucked it up again as usual!When o when are you gonna learn? Maybe you are too BUSY lining your pockets.

Anonymous said...

ah well too many racist comments, wasnt it the fijians who sold their land once to colonists for a silver spoon? now youre all crying foul when indians toil the land harvesting the fruit of their labour? wasnt it fijians that overthrew government numerous times, setting everyone back a decade behind? well i suggest we give the government back to the colonials so the could teach all the dumbwits here how to run a government, than we cold start blaming the english for our ignorance
cheers

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