Shania Shayal Prasad 
The iTaukei Land Trust Board has clarified its authority to deduct and invest lease monies collected on behalf of Landowning Units, following recent social media concerns.
TLTB reiterates its actions are based on the iTaukei Land Trust Act 1940, which mandates managing iTaukei land for both immediate and long-term financial benefits.
TLTB Chief Executive Solomoni Nata says they operate within this legal framework, making investments to build wealth for iTaukei landowners and enhance land value.
The iTaukei Land (Trust Fund Investment) Regulations 2004 authorize TLTB to invest trust funds, including rents, royalties, and lease premiums, in various financial instruments to maximize returns.
Nata highlights that while TLTB customarily consults landowning units, the final decision rests with the Board.
He adds some landowners have requested 100% distribution, but the Board has opted for investments in certain cases to secure future financial stability.
TLTB has invested over $118 million to date, generating an average annual return of $3.25 million, benefiting various landowning units, including Mataqali Naitasiri (Kalabu), Mataqali Serau (Bua), and Mataqali Matarisiga (Vitogo).
Investments have ranged from $4.7 million for land acquisitions to over $3 million for specific units, with dividends paid out annually or reinvested.
Nata stressed that any rent or premium assignment for development requires written consent from at least 60% of the landowning unit members.
