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Port Moresby
June 29, 2022
Featured Highlands News

Moran Special Purpose Authority calls on BSP to rectify signatory issues

By Patricia Keamo – EMTV News Cadet Journalist, Port Moresby

The Moran Special Purpose Authority Board appointed recently, are claiming to be the rightful leaders of the Moran Special Purpose Authority.

They are calling on the Bank of South Pacific to clarify why they have not completed due processes in approving their signatories in order for them to access funds in their account.

According to the Manager, Danny Tadabe, they have completed all processes and have sent documents of the change of signatories to BSP on February 15. Mr Tadabe says they have been waiting for two months now and the bank has not approved their signatories and access to the account.

The board is now calling on BSP to rectify this issue in the next 24 hours, or they will take legal action against them.

Another issue raised by the Moran SPA board was a transaction made by the former regime board early this month. The board claimed that while processes of the change of signatories were still going on, the former regime board withdrew K150, 000 in the account that was apparently on halt.

According to the board, the bank is aware of the change of signatories in February this year. They are currently liaising with BSP’s legal officer regarding this transaction.

EMTV News is yet to get a comment from BSP regarding this issue.



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