Former Central Bank Governor Ajith Nivard Cabral says that a high-level investigation should be launched to find out whether Central Bank Governor Nandalal Weerasinghe and Treasury Secretary Mahinda Siriwardena were involved, in a wrongful infestment of EPF funds.
As members of the Monetary Board to approve the investment of the Employees’ Provident Fund money in Government Treasury Bills and Bonds after the government securities were rated as “Default” and knowing that a “hair-cut” was imminent this move of their not a conducive move.
Through their activities, Mr. Cabral emphasizes that hundreds of billions of money will be lost.
