Attorney-at-law, Nigel Hughes is defending his position that even as a Politically Exposed Person (PEP), he can still represent oil companies.
Hughes, over the weekend, became Leader of the opposition party, the Alliance for Change (AFC). Several days before attaining this role, he declared that his law firm represents ExxonMobil and other oil companies. The revelation and his subsequent election have since ignited conflict of interest concerns.
In response, Hughes issued the following comment on his Facebook page:
Another Red Herring.
Politically Exposed Person (PEP).
I have been a Politically Exposed Person since 2011 when my wife Hon. Catherine Hughes MP became a member of the National Assembly.
Mrs Hughes remains a member of the National Assembly.
We have diligently and consistently since 2011 annually declared our assets and liabilities to the Integrity Commission as Politically Exposed Persons.
International clients who seek to retain the services of the Hughes Hughes, Fields & Stoby typically conduct a due diligence investigation of the firm in which I have had to declare that I am a PEP.
Commercial Financial Institutions in Guyana have designated me as a PEP which obliges them to conduct a higher lever of scrutiny on all of my financial transactions.
All members of the National Assembly including the Vice President are PEPS.
There is no magic to being a PEP.
The close relatives of all MPs are PEPS.
The Anti Money Laundering and Countering the financing of Terrorism Act 2009 provides “politically exposed person” means any individual who is or has been entrusted with prominent public functions on behalf of a state, including a Head of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials, including family members or close associates of the politically exposed person whether that person is resident in Guyana or not; “
There is no law which prevents anyone from entering in contracts with PEPS.
Better Must Come GY
