Finance Minister, Larry Howai.

Finance Minister, Larry Howai.

Cabinet has agreed to review procedures for the purchase of shares at state owned First Citizens Bank.

Earlier this year controversy surfaced at the state owned commercial bank over the purchase of thousands of shares by a former top ranking company official.

The official was fired from the bank on March 25th following an internal investigation.

The company said it had lost confidence in the official’s ability to carry out his duties.

Finance Minister, Larry Howai, commented on the matter at Thursday’s weekly post cabinet news briefing at the Prime Minister’s St. Clair Office.

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On Monday four board members at F.C.B. including Chairman Nyree Alfonso were dismissed at the institution’s Annual General Meeting held at the National Academy for the Performing Arts in Port of Spain.

Minister Howai said measures are being taken to replace the dismissed FCB Board members.

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Finance Minister, Larry  Howai