UGSS President's borrowing questioned; promises to repay | | Print | |
Written by Denis Scott Chabrol |
Wednesday, 24 April 2013 17:48 |
![]() Ganesh Mahipaul Failure by President of the University of Guyana Students Society, Ganesh Mahipaul to get the full executive’s approval before borrowing GUY$800,000 from the organisation has raised eyebrows but he has denied being involved in financial irregularities. He said the UGSS was there to assist students financially if required and there was documentation to support his transactions. “The money was borrowed. It’s not the first time that monies were borrowed. There are methods of accountability for our money. A paper trail is there to show that the monies were borrowed,” he told Demerara Waves Online News (www.demwaves.com). The UGSS’ Treasurer, Sherwin Benjamin confirmed to DemWaves that Mahipaul borrowed the money over a period of time. Benjamin said borrowing cash from the organisation was not prohibited providing the matter was brought before the full executive of 21 members. UGSS officials confirmed that Mahipaul had borrowed the funds without the knowledge or approval of all 21 members of the executive.Both Mahipaul and Benjamin said the reason was because it was difficult to get a quorum of the executive. Benjamin said a formal agreement was expected to be proposed for Mahipaul to commit to repaying the money within a stipulated time frame. Mahipaul and Benjamin are two of the three signatories to the Republic Bank (Guyana) account. Mahipaul confirmed that the money would be repaid. “Turn it or twist it, the money has to be repaid. All monies will be repaid,” he told DemWaves. In a leaked audio recording of a four-member management committee meeting, Mahipaul is heard explaining that he had borrowed the money because his baby was sick and he had to travel frequently to and from the Essequibo Island of Wakenaam. A “group of concerned students” said they have lost confidence in the University of Guyana administration “since they believe certain of its member would cover for the UGSS President as they seem to have done in the past.” They want the president and those persons who were also involved to resign immediately. |