The Reserve Bank of Fiji has stated that the failure of the Early Warning System (EWS) resulted in it not being able to pick out the discrepancies at FNPF.
“Whilst it's our job to see that all these financial and superannuation institutions have sound financial management and structure, we mostly rely on our Early Warning System which is located near Honolulu in Hawaii. Unfortunately this warning stuff failed so everyone has to know that it's really not our fault,” the Governor of the Reserve Bank stated in an interview this morning while referring to the scam at FNPF.
The RBF Governor, Savenaca Narube further stated that it was not the first time the EWS had failed. “Well apart from lot of smaller occurrences, which the EWS completely fails to pick, the last major one it failed to warn about was the $220million NBF scam. But let me assure the people of Fiji that we have sent a team to Hawaii to rectify the problem with the EWS and hopefully it picks out the next scam.”
Trying to explain the functional structure of the system, Mr. Narube said that the EWS has two components, one being the sensors for picking up the scam signals and the other is the communication component for relaying the warning signals.
However the members of public did not accept the explanation very kindly. One disgruntled worker at a local garment factory said, “The bastard thinks we are fools. Just because the damage done by scams to our country is usually equivalent to that done by tsunami does not mean that the EWS in Hawaii for tsunamis can be used for financial scams. Duh!”
Meanwhile, deposed Prime Minister, Laisenia Qarase maintained that the RFMF has got rid of two of the best executives at FNPF but expressed disappointment with the executives for not revealing the secret of self-enrichment to him.
In other news, the interim Prime Minister, Commodore Frank Bainimarama in an interview with the Time magazine revealed that he has tasted power but it comes nowhere close to energy food drink Milo.
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