After meeting for five hours Wednesday evening, the Board of Directors at the National Insurance Board (NIB) has yet to make a decision on the fate of suspended NIB Director Algernon Cargill.

Board members yesterday had their first meeting with Mr. Cargill, who has reportedly shunned them on several occasions.

The suspended director has been accused of a litany of charges including misconduct, mismanagement of millions of dollars of NIB funds and conflict of interests in a scathing NIB forensic audit.

The audit was conducted by accounting firm Grant Thornton, which was hired by the government after terminated NIB Chairman Greg Moss alerted NIB Minister Shane Gibson to the allegations late last year.

The meeting concluded shortly after 10:00 p.m.

NIB Chairman Father James Moultrie told reporters that he was pleased with the mood of the meeting, but said there is more work to be done.

“We had a good meeting. It wasn’t a disciplinary hearing. It was a meeting looking for information. We got a lot of information and now we have to decide what we have to decide and that is not going to be tonight,” he said.

Father Moultrie could not say when the next meeting will be.

“Some of the board members live here and some live in Grand Bahama. We had several lawyers here with various sides. We discussed the issues frankly and it was not a contentious meeting. It was a meeting to get the facts and give Mr. Cargill an opportunity to be heard,” he said.

The chairman also said he is concerned about the amount of attention NIB is getting.

“I’m new. I am the newest member of the board and when I came on the board all of the information was out there. It is a great pity and this is not a way to do business. I am uncomfortable with that kind of business. I think everything should be done as St. Paul says, in decency and in order,” Fr. Moultrie said.

Fr. Moultrie said the Board also has to discuss the second forensic report involving Mr. Moss, but indicated that it is not anticipated that Mr. Moss would be called before the Board to answer any questions.

Meanwhile, Mr. Cargill and his attorney Alfred Sears seemed to be pleased with the meeting.

The attorney repeatedly said the meeting was “constructive.”

“No decision was communicated to us. It was a very cordial meeting and it was very constructive. Mr. Cargill fully cooperated with the Board, which is his duty and I thought that it was a very constructive meeting,” Mr. Sears said.

“It was a meeting between an employer and his employees and he addressed the concerns, questions which were raised and we hope that this matter can be resolved amicably so that we can just move on with our lives.”

On Monday, Mr. Cargill filed an application in the Supreme Court asking for the court to set aside the findings of the forensic audit.

Last night, Mr. Sears declined to comment on whether Mr. Cargill will follow through with his decision.

Meantime, Mr. Cargill remains on NIB’s pay roll with full benefits.