Amid currency chaos, Zim central bank suspends top officials

2018-10-23 19:47
John Mangudya (File: AFP)

John Mangudya (File: AFP)

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Zimbabwe’s central bank has suspended four top officials for allegedly fuelling the black market trade in scarce US dollars that has caused recent upheavals in the economy. 

The suspension came after a controversial former ruling party supporter, Acie Lumumba, levelled allegations against the four in a video posted on Facebook over the weekend. (Watch the video below)

Lumumba alleged the four - Mirirai Chiremba, Norman Mataruka, Gresham Muradzikwa and Azvinandawa Saburi - were part of a cartel controlling the allocation of foreign currency and bond notes to traders on the black market, according to the state-run Herald newspaper.  

On Monday Central Bank Governor John Mangudya said the four would remain suspended for "an indefinite period to pave way for the investigations".

'The Queen Bee'

"Once the investigations have been concluded, the public shall be advised of the outcome and appropriate corrective action to be taken," Mangudya said in a statement quoted by the Herald.

Lumumba claimed the four bank officials worked with a woman he only named as "the Queen Bee".

"Queen Bee has bought cars for the (top) guys at Zanu PF because she is struggling to capture (President Emmerson) Mnangagwa. So she decides to capture everyone else," he said, in quotes carried by NewsDay

On Friday, Lumumba was appointed to head a communications task force by Finance Minister Mthuli Ncube. Lumumba has a chequered background himself, and his appointment was strongly criticised. The information ministry has since said the task force is not yet operating.

Read more on:    zimbabwe  |  southern africa

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