BOZ shielding looters, plunderers

Wed, 12 Dec 2012 07:47:00 +0000

The Bank of Zambia is shielding Officers who have participated in the plunder of Billions of Kwacha from sequestrated Task Force on Corruption accounts.

Sources at the Bank indicated that revelation of large scale “plunder” was common knowledge but that officers were powerless because the people involved were too senior and involved with the Bank in various ways.

“The Governor knows the whole story and knows the people and what has transpired, but he appears powerless to act because the sequestration of institutions by the Task Force was done with the connivance of the previous regimes and the same people are now still active in the Bank.” He said.

What was required, he said, was a very thorough purge to root out and  deal decisively with the people involved.

“At the heart of this matter is the integrity of the Central Bank which failed not only to properly manage possession and liquidation of the Access companies but has also failed to investigate and get to the bottom of what has transpired there, opting instead to cover-up tactics which go against bank ethics and the legal profession.” He said.

On page 11 we publish an extract of the internal audit report undertaken by the Boz.