An audit into the state of affairs of the National Industrial and Commercial Investments Limited (NICIL) has revealed that the entity went on a selling spree in order to get cash to finance the construction of the Marriott Hotel.

NICIL’s audit report stated that decisions were made to sell government assets with haste.  It was noted that NICIL, under the leadership of the embattled Winston Brassington, decided to sell government’s share in the Guyana Telephone and Telegraph (GT&T) company and almost all the money received from that sale US$20M went into the construction of the Marriott. But that was not all. According to the audit report, evidence indicates that in addition to the disposal of GT&T shares, “there was an acceleration of the disposal of State properties/assets in order to secure financing for the construction of the Marriott Hotel.”.(Kaietuernews.com/photo:Kaieteurnews.com)...[+]