The only legal tender to be used in the Autonomous Region of Bougainville is the Papua New Guinea Kina and no other currency.
Autonomous Bougainville Government (ABG) President, John Momis made the strong statement following reports of the U Vistract backed ‘Bougainville Kina’ that was initiated by failed money scheme boss and recluse, Noah Misingku.
Momis said the ‘Bougainville Kina’ is being used in parts of South and North Bougainville by a faction that has aligned themselves with the Mekamui group.
President Momis explained that Bougainville despite being an autonomous region cannot at this stage have its own currency as this power still firmly rests with the national government.
“The Bank of Papua New Guinea does not recognise any other currency in PNG or Bougainville for that matter except for the PNG Kina which stands as the only legal tender in the Autonomous Region of Bougainville,” said Momis.
Momis said there have been reports that the illegal currency is already in circulation.
Momis urged Bougainvilleans to refrain from using the currency and concentrate on following due processes and adhere to the ABG’s laws to generate a revenue stream for themselves as well as the government.
“We must concentrate on the legitimate processes involved generating revenue so that we can build better infrastructure as well as to better ourselves,” said Momis.
Momis said that Bougainvilleans must look at strengthening their capacity, draw down important powers and functions from the national government and be referendum ready.
He said the move by U Vistract only seeks to destabilise the ABG’s efforts of uniting the people through legitimate means.
Meanwhile, business houses in Bougainville have responded to the President’s call saying that they will not be accepting any forms of payment in transactions that does not include the PNG Kina as legal tender.