BOZ demands K4.5b

Wed, 12 Dec 2012 07:50:05 +0000

THE Bank of Zambia (BOZ) has written to the Movement for Multi-Party Democracy (MMD) demanding for  the payment of over  K 4.5 billion in outstanding debts for its company Moped, money that was owed to liquidated banks including Commerce Bank and Meridian BIO.

According to unconfirmed reports the bank has been spurred into taking action following revelations of mismanagement and theft of billions of Kwacha belonging to sequestrated accounts.

Lawyers involved in the theft and mismanagement of the funds are reported to be pushing for the MMD debt to divert attention from impending investigations and possible prosecution of individuals who were involved in the theft.

Attempts to get a comment from MMD leader Dr. Nevers Mumba failed as he was out of reach inKitwewhere he was still detained for unlawful assembly.

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