Nazri said Najib, as an adviser to the debt-ridden firm, had the right to approve its dealings.
He claimed the latter was “too busy to micro-manage” and hence may have signed the documents based on advice made by the board members.
The Tourism and Culture Minister then provided himself as an example, saying that he, too, had simply signed documents provided by his officers.
“When we were asked to sign, we sign. As a minister, I have a CEO who chairs all sorts of meetings.
“So when the documents are passed to me, I sign. How can I not trust him?
“I’ve been a minister here for three years while he has been here his whole life,” quipped Nazri at a press conference held at his ministry today.
He was commenting on the Public Accounts Committee’s (PAC) findings on 1MDB, which cleared Najib of all wrongdoing in the management of the firm.
This is in spite of Article 117 of 1MDB’s Memorandum and Articles of Association which required the explicit written endorsement of the prime minister for every single substantial transaction carried out by the firm.
Nazri said not only did he feel Najib had nothing to do with the current state of 1MDB, which according to the PAC had incurred over RM50 billion in debts as of January this year, he also believed that the prime minister’s appointment as 1MDB’s adviser was the norm, especially in government-linked companies.
“But to say Najib micro-managed and made daily decisions on 1MDB is inaccurate. He has no time to do so as he has a lot of other matters to deal with.
“In fact, I am confident that what PAC had found was accurate as they were briefed by those who had important information on 1MDB. And they all said that Najib did not influence any decision made by the firm.”
Nazri also welcomed the resignation of 1MDB’s board members, saying that the move was important as it would then allow the government an opportunity to appoint new members.