Zimbabwe: Latest - RBZ Suspends Top Officials Over High Level Graft

Photo: The Herald
Acie Lumumba
22 October 2018

THE Reserve Bank of Zimbabwe (RBZ) has suspended four senior officials over allegations of corruption.

The development comes at a time the apex bank is under fire for allegedly failing to get a grip on illegal foreign currency trading as the country's economy tumbles just three months after the disputed July 30 elections.

The suspensions, which follow public allegations made by finance ministry spokesman Acie Lumumba, were confirmed Monday in a statement by RBZ governor John Mangudya.

"The Reserve Bank of Zimbabwe wishes to advise members of the public that following allegations of impropriety levelled against senior officials of the Bank, namely Messrs Mirirai Chiremba, Norman Mataruka, Gresham Muradzikwa and Azvinandawa Saburi, by Mr Lumumba, the Bank has found it necessary, for the sake of transparency and good corporate governance, that the allegations be followed through and investigated in line with the Bank's Employment Code of Conduct," said Mangudya.

"Consequently, on 22 October 2018, the Bank suspended the quartet from employment for an indefinite period to pave way for the investigations.

"Once the investigations have been concluded, the public shall be advised of the outcome and the appropriate corrective action to be taken as dictated by the outcome of the investigations."

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