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Head of State Upholds Governor’s Integrity
Port Moresby, [Date]
In a move that has sent shockwaves throughout the nation, the Head of State has declined to remove the Governor from office despite calls for his removal. The decision comes after a thorough review by the National Executive Council (NEC) following allegations of misconduct.
NEC Decision
The NEC, in accordance with Section 16 of the Central Bank Act, notified the Governor of its decision and ordered him to continue in office. This move is seen as a major blow to those who have been calling for his removal.
“The Governor has consistently demonstrated his commitment to upholding the integrity of the Central Bank and the financial system,” said a senior government official. “We are confident that he will continue to serve with distinction.”
Review Process
The decision was made after a thorough review by the NEC, which considered evidence presented against the Governor. The council found that while there were some concerns about his conduct, they did not rise to the level of being prejudicial to his duties.
Related News: Deputy Governor Removed
In related news, the Deputy Governor has been removed from office following a recommendation by the Board of the Central Bank. This decision was made after an investigation revealed that he had breached his condition of employment.
“The Deputy Governor’s actions were unacceptable and we cannot tolerate any behavior that undermines our values,” said the Governor. “We will continue to work tirelessly to uphold the highest standards of governance and integrity.”
Establishment of Central Bank Board
In other news, the Board of the Central Bank has been established with powers, duties, and functions as set out in the Act. The board will be responsible for determining the policies of the Central Bank, subject to certain conditions.
The Governor will also submit regular reports to the Minister on the proceedings and resolutions of the Board and any steps taken as a result.
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