BREAKING : The Reserve Bank of Zimbabwe has suspends four directors

The Reserve Bank of Zimbabwe has suspended four directors to pave the way for investigations into corruption claims made by Acie Lumumba, the Finance Ministry’s new communications

The Governor said once investigations have been concluded, the public shall be advised of the outcome and appropriate action shall be taken depending on the outcome of the investigations.

In a statement that was released on Monday night RBZ said the suspension is a necessary move aimed at ensuring “transparency and good corporate governance.”

“The Reserve Bank Of Zimbabwe (the Bank) 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.
Consequently on 22 October 2018, the bank suspended the quarter from employment for an indefinite period to pave way for 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 investigation,” RBZ governor John Magudya said.

On Sunday evening via Facebook live Lumumba named RBZ Director Bank Supervision Norman Mataruka, Director Financial Markets Azvinandava Saburi, Director Financial Intelligence Mirirai Chiremba and Head of Security Gresham Muradzikwa, accusing them of crimes ranging from off-the-books bond notes to corrupt allocation of foreign currency.

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Lumumba claimed to have access to financial intelligence provided to him during briefings with Minister of Finance Mthuli Ncube.

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