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Alba Iulia
Monday, August 10, 2020

DEC and BoZ Should Issue a Comprehensive Report on two banned Financial institutions in Southern Province

Economy DEC and BoZ Should Issue a Comprehensive Report on ...

THE United Party For National Development(UPND) has called on the Drug Enforcement Commission (DEC) and the Bank of Zambia (BoZ) to issue a comprehensive statement on their findings with regards to the operations of two banned financial institutions in the Southern Province, Comsave and ONO

Speaking shortly after a meeting with DEC Commissioner, Alita Mbahwe this morning, Mazabuka Central lawmaker Gary Nkombo expressed optimism that the Commission and the Central Bank would soon issue a quick, forensic report on how far they have gone with ensuring that the deposits from the people who transacted with the two institutions are secured.

Mr. Nkombo said it was saddening to note that a huge number of unsuspecting citizens from the Southern Province are on the verge of losing millions of savings following the closure of the two financial institutions on suspicions of money laundering activities but remained optimistic that the two-state institutions will resolve the matter without negatively affecting the depositors.

Mr. Nkombo expressed gratitude at the assurances from DEC that the institution would ensure that investigations over the matter are expedited, noting that unsuspecting depositors had suffered huge losses arising from their dealings with the two institutions.

He has since called on the victims of the financial scandal to exercise patience and accord DEC an opportunity to conclude its investigations without hindrance.

5 COMMENTS

  1. What is wrong with practicing kibbutzim?

    Kibbutz is a rural community dedicated to mutual aid and social justice; it has a socioeconomic system based on the principle of joint ownership of property, equality and cooperation of production. … ‘ This community is called by the Hebrew word for communal settlement.

  2. The Question of being on the ground arises,,, You as the Mp what did you do especially after the mineral pay fiasco to see the genuineness of these two isituation. i must say am 6 months old here but i have been hearing rumours and personally i have been wanting for guidance on their interest pay out. Had you been on the ground, you would have advised nkamu despite certificate through what you are doing now. Talk of being proactive than reactive

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  3. We cannot tolerate illegal schemes which put citizens incomes at risk. We know why upnd are showing a keen interest in this. Do not fear if your hands are clean. Let them investigate. As for me I know this has crooked HH written all over it. Money laundering ati economists

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  4. KZ,WHAT IS YOUR PROBLEM ON HH?ARE U GOD TO DETERMINE HIS FUTURE?SOME OF YOUR COMMENTS AND MIND U EVERYONE IS JUST WAITING FOR THE DEPARTURE OF PF.U WILL CRY.PEOPLE HATE U WITH A PASSION.

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  5. Look at these desperate paranoid thieves shutting down community saving schemes for local Zambians because they are in UPND strong holds ………..

    Meanwhile the Indians and Chinese , Rwandese and Somalis run massive local saving schemes amongst themselves siphoning millions of dollars out of the country …….

    Such is the paranoia of a fraud convict lawyer they call a president

  6. Look at these desperate paranoid thieves shutting down community saving schemes for local Zambians because they are in UPND strong holds ………..

    Meanwhile the Indians and Chinese , Rwandese and Somalis run massive local saving schemes amongst themselves siphoning millions of dollars out of the country …….

    Such is the paranoia of the fraud convict lawyer they call a president

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