Shares

The purchase is worth $6 million Fiji dollars, equivalent to $3 million US dollars.

It was announced as part of the Revised National Budget, in the Fiji Parliament Thursday night by Minister of Finance Aiyaz Sayed-Khaiyum.

The Minister also explained that it had acquired a 51 percent share in Counter Ruck Pte Limited, which was established to manage and operate the Drua team.

A Share Certificate confirming the new 56.03 per cent shareholding in NBV was presented to the provident fund at a ceremony recently.

The Government’s representative and VNPF’s Board Chairman. August Letlet described the development as a very important milestone for Government and both institutions.

Mr Letlet said since NBV’s restructure, the Government has a vision to ensure that NBV must reach out to its people.

At least, that's according to a couple of reports this week outlining a sharp decline in "original", personal posts from its users, and what Facebook is trying to do to reverse the trend.