Former FIC board chairman John Kasanga

Finance Minister Dr Bwalya Ng’andu has appointed a new board of the Financial Intelligence Centre, replacing the one led by Mr John Kasanga.

In a statement released to the media, Minister of Finance, Dr. Bwalya Ng’andu said President Lungu has appointed a new board for the Financial Intelligence Center in accordance with Section 6G of the FIC ACT number 46, of 2010. He said the appointments come at the back of the end of tenure of the previous board in January, 2019.

Dr. Ng’andu thanked Dr. John Kasanga, for his contribution as interim board chair.He also thanked the other members of the previous board for their tireless efforts in furtherance of the objectives of the FIC.

The new members appointed by the President are:

1. Hon. Justice Prisca Matimba Nyambe, SC
2. Ms. Pelagia Kalunga
3. Dr. Mike B. Goma
4. Ms. Regina Kasonde Mulenga
5. Mr. George Chilengwa Siame

The new FIC board chairperson is Mr. George Chilengwa Siame. Dr.Ng’andu congratulated the new board on their deserved appointments.

The new FIC Board unveiled

Dr.Ng’andu advised the new board that corporate governance requires that the board of directors limit their roles to policy oversight and leave operational matters to the employees of the institution.

“As non-executive board, you need to ensure that you do not interfere with the operations of the institution,”he said.

The role of the FIC

Dr.Ng’andu outlined the FIC as an independent and autonomous government institution under the Ministry of Finance. He said the core function of the FIC is to receive and analyse financial transactions reports bordering on suspected money laundering, terrorist financing and proliferation submitted to it by accountable institutions.

The Financial Intelligence Centre is a statutory body established under the Financial Intelligence Centre ACT no 46 of 2010 (as amended by ACT no. 4 of 2016).

The FIC is 100% funded by the Ministry of Finance. There are no external funds that come to the centre. This underscores the resolve of the government to strengthen the centre as part of the process to ensure its integrity.

The roles of the board

Dr.Ng’andu said the new board have a duty to uphold the operational independence of the Institution, as this is one of the requirements by the International Anti-Money Laundering and Countering the financing of terrorism standards on the operation of the Financial Intelligence units.

The following are the roles of the board:

• Monitor and review the administrative performance of the centre in the carrying out of its functions under the ACT;
• Approve policies for the proper administration and management of the centre;
• Review the implementation of cooperation agreements between the centre and domestic or foreign designated authorities;
• Consider and approve the proposed budget of the centre; and,
• Perform such other functions as are necessary to give effect to this act.

Coordinative role of the FIC among National AML Institutions

Dr. Ng’andu reiterated that the FIC is the secretariat of the National Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) task force of senior officials which is chaired by the Ministry of Finance. They coordinate domestic, regional and international AML/CFT matters and latitude should be accorded to them to ensure the country is not lagging in implementing (AML/CFT) standards. So far, he said they have done extremely well by coordinating the recent mutual evaluation for Zambia.

International Accreditation of the FIC

In September 2018, the FIC was admitted as a member of EGMONT group, following a rigorous assessment by the international community on anti-money laundering/countering the financing of terrorism, as to whether the FIC was operating in line with the international standards. Zambia’s application to become a member of EGMONT group as required by the global anti-money laundering/countering the financing of terrorism standards commenced in 2014. Over the years, Zambia underwent several rigorous assessments to determine the country’s readiness for membership which assessments have yielded positive results. The government therefore expects the board to continue with initiatives that embellish Zambia among countries with best practice in Financial Intelligence.

 

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30 COMMENTS

  1. I am worried that the higher number of women in these Institutions has more to do with the ease of manipulating them as opposed to gender balance. This equity/equality is a facade championed to erode the progression of the developing world. I am getting so concerned with countries like ours which have fallen for this trick – nothing is improving, just erosion. We have a lot of women in positions of influence and yet this is the time when our institutions are operating at the worst level of professionalism.

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    • Finish just forget about FIC now this is a systematic dismantling of it’s effectiveness ! You think the people that protested how it’s working have any good intentions??? Next Mary Chirwa’s contract won’t be renewed or simply terminated by a “legitimate” board. If you put bill 10 in the mix we are royally screwed !!

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    • Nothing wrong, shi’a’t happens all the damn time.

      More screwing and getting screwed til y’all get numb.

      But preserve FIC please.
      PEPs must be smiling now, sigh of relief yeah?
      ACC and DEC dig in.

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    • Only people who are blind like you don’t know that women have more integrity than men.
      Kasanga politicized FIC so that he could promote the aspirations of his political party and you wanted him to continue misleading Zambians.

      Well done Minister.

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    • 6 August 2011, George Siame found guilty of assault on Roselyne Raelly the ZRA Director of Human Resources and fined K1.0M

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  2. Abilima instead of worrying about the takeover of our institutions by carders you only concerned about women don’t you have a mother who raised you to the man you’re today to look down on women. This useless minister needs to provide answers as to why you will dissolve an oversight organization without proper explanation, this is meant to cover up more corruption. It’s now a crime in pf to expose corruption we will pay heavily for voting for thieves. All these koswes care about is stealing

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  3. Such reconstitution usually raises eyebrows especially that the FIC was recently in the news and the Highest Political Office in the land seemed to have been unhappy with the last trends report. We saw individuals in the FIC being slandered instead of addressing their findings. This is how vibrant oversight institutions get weakened. The FIC had averred that ACC knows who the owner of the 48 houses is because it was part of the detailed report that they shared with investigative wings. There’s a lot of speculation and people’s anxiety is now turning into anger. When people go into elections with anger they use emotions to vote and we risk the country getting into wrong hands, especially those of the Freemason Party. Edgar doesn’t address the press so we don’t expect him to answer…

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  4. Lungu and his gang are not happy about FICs role in revealing ?/48 and other money laundering leads pointing to lungu and his gang……

    BTW ACC , we have not forgotten about ?/48 , who is the owner ? Tasila or lungu himself ??

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  5. Do you UPND cadres read these articles before commenting? The tenure of the previous board expired in January 2019! So how was it dissolved?

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  6. I HAVE NO PROBLEMS WITH BOTH THOSE THAT ARE CONDEMNING THE MOVE AND THOSE THAT ARE PRAISING IT. THE CONTRACT ENDED IN JANUARY, WHY DID THE POWERS THAT BE WAIT FOR NINE MONTHS AND AFTER A LOT OF SCUM HAD BEEN UNCOVERED BY FIC? HOWEVER THE POWERS THAT BE CAN HIRE AND FIRE WITHOUT GIVING ANY EXPLANATION. THE CONSTITUTION DOES NOT REQUIRE THEM TO DO SO. BOTH SIDES HAVE VALID REASONS. ITS 1 :1

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  7. The reasons are very valid and it so happened that they released the controversial trends report when infact their tenure was long expired.I hope the Director General’ s tenure of contract is not expired as well.I also hope the new board will accomodate her while taking into consideration the concerns raised by the general public including DEC on how the trends report(s) was jeopardising some ongoing investigations.

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  8. The search for DG has began contract is about to expire for current and as she has personal issues to resolve she does not wish to continue

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  9. If there was any more further evidence of the State (ECL) grip of all areas of human endeavour, this is the latest shameless such act. Two contradictory scenarios below.

    “In a statement released to the media, Minister of Finance, Dr. Bwalya Ng’andu said President Lungu has appointed a new board for the Financial Intelligence Center”

    “Dr.Ng’andu outlined the FIC as an independent and autonomous government institution under the Ministry of Finance”.
    This is what ECL does when he and his cohorts are implicated in financial scandals.

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  10. What qualifications in financial crimes do these new Board Members have?…..ZERO
    Just plain PF party cadres who worship ECL.
    The FIC reports of 2017 and 2018 are already in the public domain.The PF cant hide anything.
    Those cases will be properly investigated after 2021.
    Mr Kasanga will be back to continue were he left off.

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  11. SO THE FIC UNCOVERS ALL THE SCHEMES WHERE MONEY – TAX PAYERS MONEY – HAS BEEN LOOTED BY THOSE IN CHARGE. ….. WHAT DOES THE GOVERNMENT DO – THEY FIRE THEM SO THAT THEY CANNOT CONTINUE WITH THEIR INVESTIGATIONS. THEY FIRE THEM AND REPLACE THEM WITH PEOPLE WHO THEY CAN MANIPULATE. AS A COUNTRY WE HAVE ALREADY GONE BACKWARDS – WE ARE NOW FALLING OFF THE CLIFF ~~

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  12. Notice how the new FM blankly says it is lungu who did the firing and disolving and replacing.
    Also not this comes just after FIC revelations pointing to massive stealing by people close to lungu…..

    Would anyone trust lungu , seeing his agencies are hiding who owns the 48 houses ???

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  13. All the best Mr. Kasanga. You will walk with your head high. But make sure that you keep the tuma documents you came across while in office. They will be useful once these criminals are out. Next will now be the Director on the line.

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  14. By law a Board of a Public Enterprise is supposed to be appointed by a Minister. However, you will note that the Minister said the President had appointed a new Board. What does this Mean????

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  15. This is a white wash and terribly wrong to remove someone who is definitely competent and know exactly what their role is about. Mr John Kasanga came through as Acting Board Chairman and explained in very clear terms what the FIC functionality was and the report – putting to shame all those that had ganged up against the CEO of FIC, this included State House. Shame that we can’t have people of integrity to continue in these positions but rather put people who can easily be pushed around. Warning – no one will sweep the facts under the carpet for all the FIC report came up with. Well done Sir John Chisanga

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  16. @sO sO, one thing you should know is that women are better off in the kitchen where they belong, when it comes to decision making they are a disaster, think of Eve in the garden of eden, we die coz a woman let this world down with her cunning hips and lips that she uses to elevate…

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