Zimbabwe Foreign currency cartels: RBZ bosses resign

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Two RBZ officials accused of channeling money to parallel market
More heads to roll as investigation continues

THE Reserve Bank of Zimbabwe has initiated a crackdown on some of its employees who it alleges are involved in illicit financial flows that include fuelling the parallel market.

Zim Morning Post is reliably informed that the Financial Intelligence Unit director, Mirirai Chiremba and Norman Mataruka, tendered in their resignation letters at the beginning of March.

The crackdown comes at a time when the central bank stands accused of channeling money to the black market, resulting in the cost of forex scaling to dizzy heights.

“There is an investigation on the illicit financial flows on foreign currency, and the investigation has caused Chiremba and Materuka to resign,” revealed a source within the RBZ.

“Their resignations are a strategy to evade justice but if they are found guilty, appropriate action will be taken,” added the source.

The source also told this publication that the resignations would not save the two in the event they were found guilty of money laundering.

Attempts to get comment from RBZ Governor John Mangudya hit a a snag as his mobile phone was not going through, while a message sent to his WhatsApp number was not responded to.

Among those who have resigned were those fingered by William Mutamanje (Acie Lumumba) last year.

The issue of money laundering was first exposed by Lumumba during his short-lived time as chairperson of the Finance and Economic Development Communication Taskforce appointed by Finance minister Mthuli Ncube.

Lumumba made the revelations during a live Facebook broadcast in 2019.

During the live broadcast, Lumuba accused some top RBZ officials of being behind the illicit foreign exchange deals.

-Zim Morning Post

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