Colonel Richard Currie, leader of the sovereign state of Accompong, has scrapped the controversial Lumi currency and stripped the note of any association with the Maroon village.

Currie, making the declaration on Twitter on Wednesday (March 3), added that the Lumi will no longer be circulated or accepted in the territory of Accompong.

“On behalf of the Trelawny Town Maroons of the Sovereign State of Accompong, I declare that all matters regarding the LUMI currency in Accompong be ceased with immediate effect. #SoundDiAbeng,” he said.

According to Currie, his executive action was taken to preserve the integrity and debt-free status of Accompong. Seeking to wipe the slate clean, he continued that it was his “administration’s fiduciary duty to protect the public trust from any situation that could be detrimental to our body politic”.

The decision was made in light of numerous findings, which noted that the Lumi had sizeable foreign interests and shareholders—none of which were the intended beneficiaries, the Maroon people themselves.

Additionally, Currie disclosed that Timothy McPherson, the “lead architect” of the Lumi currency, holds two conflicting roles as Governor of the Central Bank of Accompong as well as Finance Minister in the current government, the latter of which is disputed.

“The architect of the Lumi currency holds a position as Governor of the Central Bank while claims to hold a position of Minister of Finance in our current government…This is a conflict of interest as @mcphersontimothy personally owns a majority interest share in the Central Bank according to documents prepared under Col. Ferron Williams administration,” Colonel Currie tweeted.

“There is NO Central Bank in the World whereby the Minister of Finance of a government is the Governor of the Central Bank at the same time, while in his/her personal capacity holds a majority interest share of the Central Bank business,” he added.

The newly elected Accompong chief explained that repeated requests for McPherson to explain what gives the Lumi any note value, as well as figures to illustrate the cost to the State once the notes were printed in Canada and brought back for domestic use, were not sufficiently answered.

Also, the issue of the Lumi printing plates not being controlled or filed by the Accompong government raised several security concerns over the likelihood of counterfeiting.

“The LUMI printing plates are not owned or stored by our government which creates security issues for the State as it relates to the possibilities of counterfeit notes being produced. Furthermore, our government is not able to confirm who is regulating the printing of the LUMI notes to protect against the effects of inflation due to stimulus printing and distribution,” the 43-year-old Maroon leader said.

Colonel Currie, declaring McPherson’s Bank Act contract null and void, indicated that the document was neither agreed upon nor certified under the authority of the Accompong Council.

“Therefore, this contract is constitutionally void and shall cease to exists,” he said.

In a tweet on Thursday, Currie further reported that McPherson has been stripped of any legislative authority and no longer represents Accompong in any capacity.

“Effective immediately, Mr Timothy McPherson, who was appointed Minister of Finance under the Col. Ferron Williams administration, is no longer authorized to speak on behalf of the Sovereign State of Accompong,” Currie disclosed.

The Lumi was launched in 2017 by the Williams administration and had a reported exchange rate of JM$1,200 to one solar note.