The National, Thursday February 20th, 2014
THE Autonomous Bougainville Government will not sanction the use of the “Bougainville kina” nor will it recognise it as legal tender, Finance Minister Albert Punghau says.
He made the comment following the arrest of an American national in Port Moresby who was caught at Jackson Airport with a briefcase containing fake currency amounting to BK1.6 million. The currency is sponsored by money scam boss and self-proclaimed king Noah Misingku’s U-Vistract organisation under its subsidiary the International Bank of Me’ekamui.
Punghau said the ABG would not condone the actions of the Me’ekamui Faction headed by U-Vistract.
“Bougainville is still under the jurisdiction of the PNG Government and the fake currency is in breach of the country’s laws and monetary policies” Punghau said.
He said under the peace agreement, Bougainville could not have its own currency and must still use the Kina as legal tender.
Punghau said the fake currency was of no value as it was not recognised by ABG and the Government.