Finance Minister Davendranath Tancoo has confirmed that the investigation into the substantial foreign exchange payment made to Jamaican dancehall artist Adidja “Vybz Kartel” Palmer is still active and ongoing. This inquiry comes in the wake of controversy surrounding Kartel’s withdrawal from the One Caribbean Music Festival, which took place on May 31 at the Queen’s Park Savannah. Kartel, along with other artists, cited unresolved contractual issues as the reason for his exit from the event.
According to the festival’s organizers, Kartel had already received a payment of US$950,000 out of a total fee of US$1.3 million prior to his decision to pull out. The significant sum involved raised concerns, prompting Tancoo to order a formal investigation into the payment practices related to the festival.
Speaking outside Parliament, Tancoo stated, “The Ministry of Finance is working very closely with the police service with regards to that investigation.” His comments reflect a commitment to uncovering the details surrounding the transaction, particularly given the involvement of one of the event’s main promoters, who is currently facing a pending criminal charge.
The investigation has captured public attention, not only due to the high-profile nature of the artist involved but also because of the implications for the entertainment industry and how financial dealings are managed within it. Acting Police Commissioner Junior Benjamin emphasized the necessity of looking into this matter, indicating that the police will play a crucial role in unraveling the circumstances surrounding the payments.
In addition to the ongoing investigation into Kartel’s payment, Tancoo was also questioned about the government’s recent decision to suspend the rollout of the new $100 polymer banknote, which was initially slated for public circulation by September 2025. The Central Bank of Trinidad and Tobago had instructed its contracted printer to halt all work related to the printing, design, and preparation of the new notes pending further notice.
The updated banknote was expected to feature enhanced security features, including a larger security strip and holographic elements, along with a new Coat of Arms that prominently displays the national instrument, the steelpan. This design would replace the existing image of three ships associated with Christopher Columbus.
Tancoo assured that more information regarding the postponement of the banknote rollout would be provided to the public in due course. However, the Central Bank has yet to clarify whether the timeline for the release will be adjusted or if the design will undergo further revisions. The institution has committed to keeping the public informed on any developments related to this matter.
As the investigations and decisions surrounding these issues continue to unfold, they highlight the complexities involved in financial transactions within the entertainment sector and the broader implications for national currency and security measures.
