Bank of PNG stands by governor amid money laundering investigations

12:30 pm on 14 February 2025
Bank of Papua New Guinea

Bank of Papua New Guinea Photo: Charmaine Yanam/Inside PNG

The board of the Bank of Papua New Guinea (BPNG) says it has not been presented with any material that would lead it to doubt the integrity of its governor, Elizabeth Genia.

Earlier this week, the investigative group OCCRP (Organised Crime and Corruption Reporting Project), published a story revealing that Genia was the subject of a police money laundering investigation at the time of her appointment as governor last year.

Genia has not been charged with any offence.

In a statement on Thursday, the BPNG board said Genia is appointed by PNG's government.

It said both the board and the governor are "deeply committed to ensuring utmost standards of integrity and excellence" are maintained at the Bank of PNG.

"The board has not been presented with any material leading us to have any doubts about the integrity of Miss Elizabeth Genia," the statement said.

The minister responsible for overseeing BPNG, Treasurer Ian Ling-Stuckey, declined to answer specific questions by the OCCRP.

"I have just perused the questions and my instincts tell me you're a fake organisation and your approach is very much like our fake opposition," he was quoted as saying via a WhatsApp message.

"I have no intention whatsoever to meet any of your deadlines nor answer any questions until you verify your credentials."

OCCRP said Ling-Stuckey did not respond after a reporter sent him further information confirming OCCRP's credentials.