BPNG silent on Popoitai’s future

 By GEDION TIMOTHY 
THE Bank of Papua New Guinea is remaining silent on the future of deputy governor Benny Popoitai whose term has expired.
Attempts by The National to get a confirmation on his status with the bank in recent weeks through emails and phone calls were unsuccessful.
A bank source however could only confirm that Popoitai was currently away overseas on official business.
It is understood that after his term expired on May 20 this year, the bank retained him on an advisory role to work with Governor Loi Bakani.
Bakani is currently overseas leading a Government team to talk to financiers about providing K3.2 billion to the country to finance items in the 2016 national budget.
Section 19 of the Central Banking Act (2000) provides that the governor has the power, after consultation with the treasury minister, to appoint one or two deputy governors.
The deputy governor is appointed for a term of five years and may be reappointed for a further term or terms of up to five years.
The deputy governor is also an ex-officio member of the Bank of PNG board.
Popoitai has been the deputy governor and board member of the Bank of PNG since November 2000.
He holds a Bachelor of Economics with Honours from the University of Papua New Guinea.