Former Reserve Bank Governor Adrian Orr is in for a significant payday.

He resigned in March, following a funding disagreement, with tensions between Treasury, the bank, and the Finance Minister.

The central bank's annual report shows Orr will receive a $416,000 restraint of trade payment this month.

Finance Minister Nicola Willis says she wasn't informed of this until today.

"I had been assured that they had done those negotiations in accordance with the terms and conditions in his contract, which had already been agreed when he was reappointed as Governor in 2022."

LISTEN ABOVE

Former Reserve Bank Governor Adrian Orr is in for a significant payday.
He resigned in March, following a funding disagreement, with tensions between Treasury, the bank, and the Finance Minister.
The central bank's annual report shows Orr will receive a $416,000 restraint of trade payment this month.
Finance Minister Nicola Willis says she wasn't informed of this until today.
"I had been assured that they had done those negotiations in accordance with the terms and conditions in his contract, which had already been agreed when he was reappointed as Governor in 2022."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Nicola Willis: Finance Minister on Adrian Orr getting $416,000 after quitting Reserve Bank

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9ce4d20d-305f-4228-85f5-b36e006dbf1d/transcript

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