The Autonomous Bougainville Government Do not Support BVK

                                                     

    The K100 in Bougainville Kina which is said to be legal tender by Noah Musingku

By Anthony Kaybing

The Autonomous Bougainville Government will not sanction the use of the so called Bougainville Kina (BVK) nor does it recognize it as legal tender in Bougainville.

The ABG’s Minister for Finance Albert Punghau made this statement following the apprehension of an American national at the Jackson’s Airport with a brief case filled with the phony currency amounting to BVK1.6 last week.

The currency is sponsored by illusive money scam boss and self-proclaimed king Noah Misingku’s U-Vistract organization under itssubsidiary the International Bank of Mekamui.

Mr Punghau said the ABG does not and will not condone the actions of the Mekamui Faction headed by U-Vistract.

“Bougainville is still under the jurisdiction of the PNG Government and the BVK is in breach of the country’s laws and monetary policies” Mr Punghau said.

 He said that despite Bougainville’s autonomous arrangement, 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.

Mr Punghau further explained that until such time as Bougainvilleans decide to become independent through the referendum then can Bougainville be granted the right to mint its own currency and formulate its own monetary policies.

“Right now the legal tender in Bougainville is the PNG Kina and nothing else,” he said.

He said Bougainvilleans who are using the BVK must refrain from doing so as business houses in Bougainville will not accept it following the advice of the PNG Central Bank that denounced the use of the currency last year.

He added that in the case of the American national, Barry Keith would face the full brunt of PNG’s migratory laws as well as having to face other charges on violating the country’s monetary policies.

Reports from sources within Noah Misingku’s camp in Tonu, South Bougainville say that U-Vistract has distanced itself from the scandal saying they were unaware of Mr Keith’s illegal entry into the country.