July 25, 2025
The Editor,
Some nine years after its completion, we now need to have the Colman Report into the collapse of the CL Financial Group published.
The bailout of the CL Financial Group (CLF) started in January 2009 and consumed over $25 Billion in Public Money, in circumstances which remain mostly unclear, even after a full-scale Commission of Enquiry into the collapse of both CLF and the Hindu Credit Union (HCU), conducted by the late Sir Anthony Colman QC.
That Commission of Enquiry was ordered by the PP govt, led by Kamla Persad-Bissessar, which marked a welcome spell of lucidity in that troubled period of growing financial turmoil. The 2010 budget speech by then Finance Minister Winston Dookeran (pgs 342 to 345) gave the required clarity and purpose to the proper understanding of the CL Financial collapse and the consequent bailout, which he was proposing to re-order. Then PM Kamla Persad-Bissessar’s speech on 1st October 2010 (pgs 19 to 34) made irrefutable points on the mishandling of the bailout and proposed the Commission of Enquiry.
This Season with the two-month transition from Emancipation Day on 1st August to Independence on the 31st of August, then onto Republic Day on 24th September is one of sober reflection and re-dedication for me. It seems to me that the very sequence of events and the consequent holidays in the season imbue it with an inner meaning about national transition to some kind of depth and purpose, but maybe that is just sentimental of me, we will see.
This Season of Reflection beckons yet another Sankofa Moment in which I will contemplate our past efforts so as to better understand our future.
Colman’s Report was completed in two parts –
- the HCU part was published by the PP govt to its immense credit, immediately upon its completion, in July 2014;
- The CL Financial part was completed at the end of June 2016, but the PNM govt did not publish that Report, citing the DPP’s reported concerns that doing so would imperil any future prosecutions – viz then-PM Dr Keith Rowley’s address to Parliament on 1st July 2016 (pgs 193 to 199).
Nine years have now passed, with no reported arrests, charges, prosecutions or asset seizures. I have repeatedly requested an update from the DPP, but that is that.
The newly elected UNC govt, under Kamla Persad-Bissessar SC, has promised to publish the Colman Report into the collapse of CL Financial and I have no reason whatsoever to doubt that commitment, given their estimable performance on this issue. I am calling for that Report to be published now.
Afra Raymond
afraraymond.net
AfraRaymond.net 
Never forget is the best approach. Amon Saba Saakana, Ph.D. Karnak House Email: karnakhouse@aol.com Website: karnakhouse.co.uk
Thanks, Saba – this Report is now nine years overdue!
I look forward to the publication of this report. Our country owes a tremendous debt to you Afra, for your tireless work on transparency and accountability. May God continue to give you courage to keep on keeping on!
Thanks, Marla – so good to connect with you once more and I thank you for your support.
Afra, ’tis been many moons… but here we are still…. Continue doing what you do best in seeking accountability. For it is this absence that has us in the continuing state of impotency. Was thinking recently how we continue to thrive on a promoted ‘mediocrity’ with professionalism vi ki vi – IF any and therefore accountability is not demanded. “$25 Billion in Public Money” is one of the absurdities which we have accepted… WASTE that would or should have been used to build our Nationhood is not even recognized as scandalous. And so we persist in this state of TACKY in which anything goes. Again, great to connect once again Afra. RhonaB
I really appreciate this response, Rhona, especially given the significant assistance Owen gave me on my CLICO/CLF research over the years…thank you!
9 Years later will include many alterations and convenient memory lapses, whatever is revealed the prosecutions will not eventuate, your ethic is solid but trying to exist on the shifting sand of corrupt genealogy is insurmountable, a deeply inculcated mindset of Diversionary Tacticians exists that is challenged by a minor…minority! Afra, never give up your core value of at least educating our people of their betrayal, there is a strongly impacted complacency and sense of entitlement, some still on the 400years bandwagon! What has really changed? The established cliques have a stronghold that can only be penetrated by resilience and trust of the people that feel the pendulum can return to center, without a “wakeup call” or Oil & Gas the angst will build more than it is
Eg Has anyone ever suggested a GUN Court (re Jamaica) like the one Dr Beaubrun helped develop be instituted in JA? Everyone needs to fear the quote “Do the crime and do the time”!