BPNG warns on usage of paper notes

Central Bank Governor Loi Bakani has again strongly warned people not to accept paper bank notes in any transactions.

He advised that the people must be on look out for various security features as detailed on the K50 and K100 posters before accepting them. I

“If any of these security features do not appear on the banknotes given to you, do not accept it.

“Be alert and don’t be fooled by accepting any paper banknotes.”

Bakani added that the Bank is aware that there are PAPER BANKNOTES in the hands of some people attempting to exchange them for polymer banknotes.

“There are attempts also to sell these paper banknotes in exchange for other foreign currencies (e.g. American dollars and online services such as e-bay).

“The public is strongly advised not to accept them as they are no longer legal tender, and are of no use in Papua New Guinea.”

He reiterated that the banknotes (K2, K5, K10, K20, K50 and K100) made from PAPER ceased to be legal tender on 30th June 2012.

“Any PAPER BANKNOTES do not have value anymore, and should not be accepted and used,” he said.


Freddy Mou