FNM Leader: It’s a Simple Question, Where is the 700 Million Stashed Away?

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NASSAU , BAHAMAS – Who gave parliamentary approval to redirect funds from the National Investment Fund? Is there any accounting to show how those funds were deposited, and who are the board of directors who approved such a move?

These and other questions, raised by the Free National Movement, which is demanding answers from the Davis administration.

In a scheduled press conference on Monday at FNM headquarters, Leader Michael Pintard said that there’s a lot the government has to account for, especially considering the true purpose of the NIF.

The controversy stems from the government’s financial reports showing the fund’s balance dropped from 265.3 million dollars at the end of December 2025 to just 200 thousand dollars by the end of March.

The explanation: The government says the money was used to help finance airport upgrades in the Family Islands.

Leader Michael Pintard says the concerns go deep, pointing to a revelation Finance Minister Michael Halkitis made during the budget debate.

Michael Pintard – Leader, Free National Movement

“He stated that the government excess, his words, borrowing, total $700 million, was transferred to the National Investment Fund. We could locate no authorization for any borrowing up to $700 million. Once again, we could not find the legal parliamentary appropriation to move $700 million to the fund.”

And while airport funding is important, Pintard offers some alternatives.

Michael Pintard – Leader, Free National Movement

“They can do so through public-private partnership. Somebody else brings the money to the table. The money is allocated. The government is just responsible for paying back all the time, or the government can enter into an arrangement where it is also responsible for putting up funds. I’m paying it out of the capital budget.”

When the news first broke, Communications Director in the Office of the Prime Minister Latrae Rahming said the public should wait for the fund’s report to properly explain what this means, but Pintard disagrees.

Michael Pintard – Leader, Free National Movement

“We should not be talking to the director of communications. We should be talking to the Prime Minister. This is so serious of an issue. We should be talking to the Minister of Finance.”

The National Investment Fund, also known as the NIF, is the government’s investment vehicle created under the National Investment Funds Act of 2022.

The fund is designed to help finance national infrastructure and public improvement projects, support development in the blue, green, and orange economies, and manage certain national assets and resources for the benefit of Bahamians.

Michael Pintard – Leader, Free National Movement

“How many machines, diagnostic tests, how many fire engines, how many transformers so we could keep the power on? How many of those could be purchased at $700 million, $265 million?”