Former Central Bank Governor Dr. Alvin Hilaire has signaled his intention to sue the Trinidad and Tobago government for wrongful dismissal following the revocation of his appointment on June 24.
In a message sent to Guardian Media last week via WhatsApp, Hilaire confirmed that his attorneys had issued a pre-action protocol letter to the Cabinet, routed through the Attorney General and the Cabinet Secretary. “I am hopeful that the matter will be expeditiously settled,” he said.
Hilaire has retained a legal team led by Senior Counsel and former Prime Minister Stuart Young, along with attorneys Anthony Bullock and Imran Ali. On Thursday, Hilaire emphasized that a “calm, prompt and complete resolution of the matter would be in the best interest of the international economic reputation of Trinidad and Tobago.”
His termination came without an official explanation from the government. However, Prime Minister Kamla Persad-Bissessar had publicly criticized Hilaire weeks before his dismissal, accusing him of refusing to disclose the identities of the top users of foreign exchange in the country.
The presidency announced that former finance minister and banker Larry Howai had been appointed as Hilaire’s replacement, effective the same day as his removal.
Hilaire was first appointed governor on December 23, 2015, following the controversial termination of his predecessor, Jwala Rambarran. His five-year term ended in 2020, but he was reappointed for another three-year term after changes were made to the Central Bank Act allowing for flexible term lengths of between three and five years.
His case bears similarities to that of Rambarran, who was also fired under contentious circumstances after raising red flags about the foreign exchange market. Rambarran later won a $7.5 million settlement in a wrongful dismissal suit against the State.
Attorney General John Jeremie confirmed on Thursday that he had not yet received the legal correspondence from Hilaire’s team but said the usual legal protocols, including a formal response, would follow.
Despite the looming legal battle, Hilaire expressed gratitude to the Central Bank’s staff. “I am privileged to have been part of the elite squad that is the staff of the Central Bank of Trinidad and Tobago. They are super talented, super professional and work 100 per cent for the advancement of our beloved nation,” he said.
