Algernon Cargill is now the former director of the National Insurance Board (NIB).

As reported exclusively by The Bahama Journal yesterday, NIB’s Board decided Wednesday to fire Mr. Cargill from his post and was only waiting on National Insurance Minister Shane Gibson to approve the decision.

Mr. Gibson gave his blessing to boot Mr. Cargill from his post on Thursday.

The Journal understands the Board cited two main reasons for the dismissal: Mr. Cargill’s “gross misconduct” regarding a Sandyport rental and his disclosure of confidential NIB information in an affidavit to the court.

The letter was signed by NIB Chairman Father James Moultrie and delivered to Mr. Cargill’s Nassau East home.

Mr. Cargill’s wife received the letter.

The decision comes after a costly forensic audit into allegations that Mr. Cargill abused his power while at NIB’s helm and was engaged in misconduct.

The government spent a staggering $861,606 on the audit, which was conducted by Grant Thornton (Bahamas).

Mr. Cargill has referred all queries to his attorney, Alfred Sears.

The Journal attempted to speak with NIB Chairman Father James Moultrie yesterday; however, calls were not returned up to press time.

It was just last year that now fired NIB Chairman Gregory Moss and NIB’s Board wrote a 22-page letter to Minister Gibson alleging that bonuses were improperly paid to Mr. Cargill and he abused millions of dollars in public funds.
The Board’s investigations revealed that Mr. Cargill’s brother owned an apartment in Sandyport and another apartment was being sought for $4,500.
But Mr. Cargill rented the apartment with a deposit of $18,333.40 even though the actual amount needed for a deposit was only $5,000.

Mr. Cargill’s termination closes one chapter on the ongoing NIB debacle.

However, it is believed his fight with NIB is far from over as earlier this week Mr. Cargill filed an application for judicial review to have the findings of the audit set aside.

Minister Gibson told reporters Wednesday outside parliament that Mr. Cargill could also face criminal charges if the Attorney General’s Office sees fit to file them.

Messrs Gibson and Cargill have been embroiled in a bitter war of words for months.

The national insurance minister has repeatedly accused Mr. Cargill of refusing to at first meet with the auditors and then later NIB’s Board.
Several weeks ago Minister Gibson said he and the Board tried to get Mr. Cargill to appear before them several times to discuss the audit’s findings, but to no avail.
“Right now we are waiting on Mr. Cargill. We wrote him. He is still an employee of the Board and is still being paid,” he said at the time.
“We called him and asked him to attend a meeting. He said he was busy. We wrote him back and asked him to attend a meeting on May 21. He said that he is not available until the 24th of June and we told him that he is an employee of National Insurance and either he shows up on the 21st or we will make a decision in his absence. And so he has between now and the 21st of May to show up and no amount of stalling will help. All we want him to do is come in so that he can discuss the contents of the report.”
Mr. Cargill was receiving his full pay up until yesterday.

Mr. Gibson made no secret of the fact that he wanted Mr. Cargill fired, but had to follow proper protocol first.