By ORCHY REX
WOMEN’s Micro Bank Ltd, popularly known as Mama Bank, has strongly denied accusations of misappropriating K3.9 million.
The claims, made by a group of women from Madang and broadcasted by one of the television stations (named) on Wednesday, 25th September, have been described as false, slanderous, and misleading.
Chairman of Women’s Micro Bank Ltd, Mr. Noel Norikgu, clarified that the amount in question relates to share capital and not to any misappropriation.
“The amount in question is part of the share capital of K3.9 million shares held by the PNG Women in Business Inc (WIBF) that was issued at the time the bank license was granted,” Mr. Norikgu said.
He further explained that PNG Women in Business Foundation (WIBF) has members across the country, and not just in Madang.
Norikgu said any concern that the women from Madang may have been tied to their membership in the foundation and not directly to the bank itself.
“These women in Madang are members of the Women in Business Foundation.
“Any claim they have is related to their membership and not directly with the bank.”
The Chairman therefore condemned the allegations made by the group on the media against the bank.
“These claims have caused unnecessary concern and tarnished the reputation of the bank.
“It is clear that the television station failed to verify the accuracy of the statements before broadcasting them,” Mr. Norikgu said.
He emphasized the importance of media and called for a public correction and retracting of the newscast from the responsible media company.
President of PNG Women in Business Foundation, Mrs. Julie Ngansia, also condemned the actions of the Madang group, highlighting that their accusations were unauthorized and did not represent the Foundation’s official stance.
“The group of women who initiated the accusations were not authorized by the Foundation to issue such press statements to a news organization, and it does not reflect the position of the Foundation or the majority of its members,” Mrs. Ngansia clarified.
She further explained that most members of the Foundation, particularly the Madang pioneers, did not sanction the actions of the group, implying that the individuals were pursuing their personal interests.
“The majority of the Madang pioneer members have not authorized this group to speak on their behalf.
“The individuals in question appear to be pursuing their own agenda and interests apart from the Foundation itself,” she added.
Meanwhile, the Foundation has terminated the memberships of all the women involved in peddling the allegations.
