The Bank of Zambia has refuted allegations by former Access Financial Services Director Aaron Chungu that its agents have looted and plundered funds at Access Financial Services Limited and Access Leasing Limited, both in liquidation.
Bank of Zambia Head of Public Relations Kanguya Mayondi in a statement released to QFM News said that the central bank has followed the process of liquidation as outlined in the Banking and Financial Services Act, Chapter 387 of the Laws of Zambia.
Mr Mayondi explained that subsequently a liquidation schedule was prepared and lodged with the High Court, in accordance with the provisions of the Banking and Financial Services Act.
He said that Mr Chungu together with other former Access financial services directors are at liberty to inspect the liquidation schedule and can report any matter they consider criminal to the law enforcement agencies for action.
Mr Chungu has revealed alleged gross financial mismanagement in the liquidation of the defunct Access Financial Services Limited involving billions of kwacha by the Bank of Zambia through its agent Maulu Hamujele.