Forex Scam: RBZ Suspends Top Brass

The Reserve Bank of Zimbabwe (RBZ) has with immediate effect suspended four directors in connection with illegal foreign currency dealings.

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.”

Forex Scam: RBZ Suspends Top Brass

“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.

Last night the newly appointed Ministry of Finance Communications Taskforce chair, Acie Lumumba, announced in a video via his social media page that senior RBZ officials were allegedly fueling the mess in the illegal forex market.