FDB CEO reveals salary of executives to PAC

Fiji Development Bank CEO Deve Toganivalu today revealed in the Public Accounts Committee that his base salary is $177,000.

He also revealed that the General Manager Business Risk is getting an annual salary of $103,000, the General Manager Finance is getting a salary of $100,296 while the General Manager Sales is getting $97,129.

While giving details of the FDB to the committee, Toganivalu also revealed that there are three sub-committees in the FDB Board and  for each sitting of the sub-committee, the allowance is $200 an hour.

He says two sub-committees usually sit every quarter while the third sub-committee, which is the credit risk committee, meets more regularly than the other two committees.

Toganivalu says the credit risk committee looks at all applications that are $2 million and above.

FDB currently has five board members.

Toganivalu revealed that the Chairman Bob Lyon receives an annual allowance and directors fees of $16,878, Deputy Chair, Wella Pillay gets $10,973 annually while Inia Naiyaga, Olivia Mavoa and Rajesh Patel who are board members are getting $8,490 annually.