The Autonomous Bougainville Government says, it will not sanction the use of the so-called Bougainville Kina nor will it be recognized as legal tender in the region.
This was announced by Finance Minister Albert Punghau following the apprehension of an American national at the Jackson’s International Airport, who tried to smuggle 1.6 million Bougainville Kina last week. The currency is alleged to be sponsored by illusive money scam operator of U-Vistract and self-proclaimed king Noah Musingku, under its subsidiary the International Bank of Me’ekamui. However, reports from sources within Musingku’s camp in Tonu, South Bougainville say that U-Vistract has distanced itself from the scandal saying they were unaware of Barry Webb's illegal entry into the country. Mr. Punghau says the ABG will not condone the actions of the Me’ekamui Faction headed by U-Vistract. He says Bougainville is still under the jurisdiction of the PNG Government and the BVK is in breach of the country’s laws and monetary policies. Minister Punghau says under the Bougainville Peace Agreement, Bougainville cannot have its own currency and must still use the PNG Kina as legal tender. With reports of the BVK already in circulation in parts of South Bougainville, Mr. Punghau made it clear that the currency has no value as it is not recognized by the ABG and PNG Government. He explained that in any country only a Central Bank has the authority to mint a country’s currency under the backing of their Governments. Punghau appealed to all Bougainvilleans to refrain from using the illegal money as it will not be accepted following the advice of the PNG Central Bank that denounced the use of the currency last year. Comments are closed.
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