Churches to receive royalties directly into BSP accounts

Business

MORE than 50 churches in Astrolabe Bay local level government (LLG), Rai Coast, Madang, will receive their royalties from the Ramu NiCo project directly after opening accounts with Bank South Pacific.
A team from BSP travelled by boat to Lila in the Siroi area, then to Ileg and Bogadjim by car, to open accounts for the churches and people last week in a programme organised by the Coastal Pipeline Landowners Association (CPLLOA) in collaboration with the Ramu NiCo (MCC) community affairs department.
CPLLOA chairman Steven Saud, who spear-headed the programme, said the association planned to have royalties from the Ramu Nico project deposited directly into the church accounts so the committee nominated by the congregation could use the funds for church programmes.
Saud challenged the church elders to be accountable and transparent in dealing with royalty funds, and importantly use the money improve their congregation.
He further challenged the church leaders to prioritise youths in their programmes.
Prior to the opening of the bank accounts at three locations, BSP Madang branch financial literary trainer Gaudi Manu conducted training for the landowners.
Manu emphasised budgeting and how the people could wisely use their money from the royalties.
He also shared knowledge on setting financial goals and told the people to examine their money management.
The churches in the three rural locations thanked the CPLLOA chairman Saud and his executives for bringing the bank officers to the rural settings enabling them to open bank accounts and learn about financial literacy.