Minister of Finance denies $3M budget for NLCB's 50th anniversary celebration

A $3 million dollar request from the NLCB to the ministry of finance has been denied.

CNC3 has obtained a copy of the letter sent by Vishnu Dhanpaul of the ministry of finance to the Mr Michael Jogee of the NLCB

In the letter, Ddanpaul stated “ please be advised I have been instructed by minister of finance Colm Imbert to inform the board of the NLCB that no approval has been granted for the expenditure of $3 million to be used in NLCB's 50th-anniversary celebration”

The leaked memo comes one day after the NLCB revealed it recorded the highest level of sales and profitability in its history. 

In fiscal year 2016/2017, the state company recorded $2.96 billion in revenue.

It paid out 70 percent of this revenue intake ($2 billion) in prizes while it remitted $306 million to the treasury

 

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