Port Moresby, 21st October, 2026
The sponsorship arrangement between Nambawan Superfund and the PNG Chiefs rugby league team has become a governance question of the highest order. Superannuation funds are custodians of retirement savings belonging to hardworking public servants. Every kina held by Nambawan Super is entrusted for the future of teachers, nurses, police officers, and countless others. When such funds are diverted into high-profile sports sponsorships, the burden of justification must be far greater than that of a commercial bank or private company.
Michael O. Koisen, CEO of Tisa Bank, has publicly questioned the rationale behind this sponsorship, stressing that “the primary purpose of a superannuation fund is to protect, grow, and safeguard members’ retirement savings.” He asked pointedly how much of members’ money has been committed, what financial return is expected, how success will be measured, and whether this sponsorship improves retirement outcomes. He further argued that funds of this nature would have been better directed toward member services, fee reductions, digital improvements, financial literacy initiatives, or enhancing long-term investment performance. His commentary underscores the fiduciary responsibility that trustees must uphold and the right of members to demand accountability.
The unanswered governance questions remain critical: how did Nambawan Super get approached for this sponsorship, whose idea was it, how did the Board approve it, and how will it benefit members in tangible ways? Until these questions are addressed, the sponsorship risks being seen as a total waste of retirement funds. Members must petition Nambawan Super to withdraw the sponsorship, because it is their money, not the Board’s. Trustees are merely custodians, not owners.
The Board and management of Nambawan Superfund must raise the bar and provide full disclosure of the sponsorship’s cost, rationale, and expected outcomes. The Bank of Papua New Guinea must ensure that superannuation governance is not compromised by discretionary spending. The Government must strengthen strategies to protect, manage, and improve members’ funds, ensuring that every kina spent advances contributors’ interests.
Trustees are entrusted with other people’s money, and that responsibility demands transparency, accountability, and prudence. Without clear justification, this sponsorship undermines confidence in Nambawan Super’s stewardship and sets a dangerous precedent for how retirement savings can be diverted. Until the Board publishes the numbers and demonstrates measurable benefits, this sponsorship stands as a misuse of retirement funds and a breach of fiduciary duty.
Employer Groups like Public Employees Association, Police and Teachers Associations etc must now come out to protect their funds to petition NSL and BPNG to withdraw sponsorship