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Two PNG Prime Ministers named in Ombudsman Commission UBS loan Report

Former prime minister Peter O'Neill and his successor, incumbent James Marape have both been named in the Ombudsman Commission Report into the controversial K3bn Union Bank of Switzerland loan.

Mr O'Neill who was named the principal defendant in the report, was found to have bypassed the National Executive Council to acquire the loan to purchase over 149,000 shares from Oil Search Limited.

Mr Marape was then Finance Minister.

The report also implicated:
*then State Enterprise Minister Ben Micah,
*Central Bank Governor Loi Bakani,
*Treasury Secretary Dairi Vele,
*Finance Secretary Dr Ken Ngangan,
*Chief Secretary Isaac Lupari,
*Central Supplies and Tenders Board Chairman then, Philip Eludeme,
*Lawyer and consultant Karl Okuk, and
*Wapu Sonk, then Managing Director of the National Petroleum Company, Kroton.

Each of the men have been recommended for referral and investigation under the Leadership Code.

Acting Speaker, Jeffery Komal tabled the report in Parliament yesterday.

Prime Minister Marape welcomed the report, announcing that there will be a Commission of Inquiry into the Ombudsman Commission report.

Mr O'Neill says he's happy to be the first to testify in the inquiry.

Former chief justice Sir Arnold Amet says law enforcement agencies can act on recommendations of the Ombudsman Commission report but after Parliament is allowed to debate the report.

Many Papua New Guineans are commenting on social media Facebook, that police should immediately arrest those implicated.

However, Sir Arnold explains that there is a process and that is for Parliament to first debate and adopt the report.

Sir Arnold has commended Prime Minister James Marape for being brave in tabling the OC report.

NBC News/ PNG Today

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Former PNG Prime Minister O'Neill welcomes UBS Loan Report

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