9.5 C
Alba Iulia
Friday, April 16, 2021

Explain where the money being displayed by PF cadres on social media is coming from, HH Challenges BOZ

Columns Explain where the money being displayed by PF cadres on social...

UPND President Hakainde Hichilema has challenged the Bank of Zambia Governor to explain to the nation where the money being displayed by PF cadres on social media is coming from.

Speaking during a Press Conference in Lusaka today, the UPND leader said it is just morally right for the Central Bank to explain to the nation where the cash is coming from.

Hichilema said failure to do so by the Central Bank will make citizens conclude that the BoZ is printing money which they are giving to PF cadres; money which isn’t backed by any economic activity.

He has since called on the Zambia Police, Anti Corruption Commission and the Drug Enforcement Commission to quickly move in and find the source of the money which PF cadres are flashing on social media when there is no money in circulation.

Hichilema has further urged Members of Parliament from both the opposition and ruling party not to tolerate the Cyber Security Bill.
He said the bill is aimed at completely taking away people’s rights including the right to privacy.

Hichilema indicated that the nation is not short of laws that can address issues of social media abuse.

He has since urged Zambians to reject this Bill as it will lead even to the shrinking of the media space in the country.

52 COMMENTS

  1. Serious economic sabotage by ECL & PF just for selfish pursuit of continuous power in Aug 2021. Its not just the cash. Its the bus, bicycle & cash donations being done at all levels of PF leaders & cadres. I cry for mother Zambia

    34
    5
  2. Serious economic sabotage by ECL & PF just for selfish pursuit of continuous power in Aug 2021. Its not just the cash. Its the buses, bicycles & cash donations being done at all levels of PF leaders & cadres. I cry for mother Zambia

    12
    5
  3. This is why Zambia’s inflation is gone thru the roof.Political advantage above the economic health of Zambia…the negative economic indicators are a dubious badge on PF leadership.

    6
    2
  4. What is the connection between the BOZ governor and the PF cadre or should I say the CB upnd cadre masquerading as a PF cadre??? Like the Bill of Rights or Bill 10, hh wants to confuse Zambians to shoot down progressive laws. The Cyber Security Law doesn’t need 2/3 majority that’s why he’s asking ruling party mps to not support it, this oval headed twit!!

    7
    40
  5. They fired Dr Kenny Kalyalya as Governor of BOZ and brought in Chris Mvunga to print Money for Election Campaigns for PF. They are using Printed Money to buy votes hence there is now too much money chasing fewer goods and prices are skyrocketing. They are also using scarce foreign Currency to import luxuries like Helicopters instead of importing essential medicines and drugs. At this rate of Printing Money Zambia is already experiencing hyperinflation. By August 12, 2021 the inflation rate will have spiked and prices of goods and services will become unaffordable. Come August 12 Zambians must vote out this corrupt and irresponsible PF Govt without fail.

    18
    2
  6. Hh is a real donkey, what does he mean there’s no money in circulation?? What about all the shops and companies selling goods and services everyday??? Read a s.t.u.p!d story in Diggers about Zambia being the 5th hungriest country-total rubbish!!! The twit has failed to come up with a winning strategy, so he wants to confuse his fanatical supporters.

    7
    38
  7. Good one kanondo! One like from me. This cyber security bill needs to die by all costs, but knowing PF and how they agree with anything, I fear dark days ahead for the country once this bill is law.
    And now my comment on the article, HH is completely off the rails when he asks BOZ to clarify the money, as suspicious as it is, this is similar to asking BOZ to clarify where he, HH gets his money from or indeed any other individual.

    7
    14
  8. Excessive Printing rinting of Money is highly inflationary and already prices of goods and services have skyrocketed. If BOZ continue Printing Money at this Rate Money Supply will sharply increase and by August 2021 Election Day Zambia will be experiencing hyperinflation. Prices of Goods and Services will have trebled and goods will become unaffordable to most Zambians. Doesn’t ECL see that that will make him even more unpopular and unelectable? Hyperinflation could lead to food riots so how does that help ECL and PF Campaigns? KK tried Price Controls and failed in the 1970s. Does ECL want to repeat this failed Policy? Time will tell.

    7
    1
  9. @Kanondo-How do you explain a person who believes his lies and rubbish??? That cadre flashing money had been identify as Cisco, a upnd cadre from the C/Belt, and you go public wanting to implicate the Central Bank Govenor in baseless gutter issues??? Respect, my man!!! That’s why he’s lost elections 5 times, a real donkey, a twit and a political failure!!!

    3
    14
  10. Hyperinflation is the cause of higher prices of Consumer Goods and Services. Continued reckless printing of Money will lead to higher prices and People will fail to buy Basic needs. Hyperinflation can lead to food riots. With the Heavily armed ZPS is ECL instigating these food riots so that ZPS can shoot dead Angry and Hungry Zambians? This is an unwise path to take in an Election Season. The writing is on the wall.

    3
    2
  11. Can a person walk into BOZ and collect money bwana. This challenge to BOZ is targeted at a wrong institution. Bwana rephrase the question and direct it to the right institutions. Those funds are probably collected from commercial banks, maybe you can have a chance of finding out the source there. Otherwise kuwayawayafye……….

    8
    8
  12. Kanondo-That is such a s.t.u.p!d question!!! Why should I be arrested for calling hh what he is?? A childish politician who thinks everyone believes his imaginary tantrums.

    3
    12
    • SO WHAT WOULD BE WRONG FOR SOMEONE TO CALL LUNGU WHAT THEY THINK HE IS TOO? IF THE GOVT CANT DO ANYTHING WITH THE CURRENT LAWS THAT EXIST WHAT MAKES YOU THINK THEY WILL ACCOMPLISH ANYTHING FROM A CYBER LAW. WITH THAT LAW PEOPLE WILL BE PRETENDING TO BE HH OR LUNGU ON SOCIAL MEDIA IN ORDER TO TARISH THEIR NAME FURTHER. YOU TODAY ARE IN SUPPORT OF THE CURRENT GOVERNMENT BUT WHEN IT CHANGES YOU WILL NEED THE CURRENT SECURITY YOU ENJOY ON SOCIAL MEDIA TO VENT ANGER OR FRUSTRATIONS AT THE NEW GOVERNMENT SO HOW WILL YOU FEEL WHEN THAT IS TAKEN AWAY FROM?

  13. Some of these politicians steal tax payers money to boost their businesses and then later on start buying expensive assets, only to claim that I bought this and that from my business

    7
    1
  14. NO QUESTION IS STUPID BY THE PERSON ASKING IT HE HAS HIS REASON
    I SUGGEST OPPOSTION JUST SITS BACK AND SAYS NOTHING WHILST THE PFF SLOWLY DESTROYS ITSELF AND THE COUNTRY
    ZAMBIA ARE NOT STUPID ANYMORE
    AND THEY WILL MAKE ZAMBIA GREAT AWAY WITHOUT THE PFF

    8
    1
  15. The money I displayed was K900,000 which I got from a farmer from S/Province who bought my Hilux for $45,000. BOZ BOZ chani apa?

    1
    7
  16. Is so difficult to Explain.
    Also Explain why Zambia has failed to pay two coupons towards the Euro Bond Debt
    But Ministers are busy dishing out large sums of money and Pf Cadres flashing ifi Dunku fyandalama on social media.

    4
    1
  17. SAD INDEED …….. BUT WE FOOLISH PEOPLE HAVE MADE THEM OUR GODS AND THEY NOW BELIEVE THEY ARE GODS
    WHAT RIGHT NOW DO WE HAVE TO QUESTION THEIR GIVING OUT MONEY FREELY AND USING UNFAIR TACTICS TO WIN AN ELECTION

    2
    2
  18. Because of the public backlash, they will now start distributing this money quietly, just to emphasize, people must not think it is gone, it will still be very much all over. Remember this is not a party with any iota of morality

  19. The ECL Govt has been negotiating with IMF for a Cash Bailout amounting to $1.3 Billion while at the same time BOZ is recklessly printing money. IMF doesn t accept such an Expansionary Monetary Policy becoz it is highly inflationary. The Minister of Foreign Affairs has just bought a Helicopter costing about $5 million at a time Zambia is defaulting on its foreign Debt. Doesn’t ECL know that such contradictory Economic Policies are not acceptable to IMF? Should the August 2021 Elections be violent and disputed an illegitimate ECL Govt will have a tough time accessing IFIs loans. So the Zambian Economy post a disputed Election will decline further making Zambians suffer more. Zambians should brace up for hard times ahead should ECL successfully steal a Third Term. Sanctions from the…

    3
    1
  20. The way americans fear IRS , am wondering why these guys flashing money are not scared our tax man, by the way which banks are allowing these individuals to withdraw such huge sums of money in cash form, are they not supposed to alert DEC in such scenarios?

  21. They will continue distributing this money away from the public eye now that they are in the microscope, but if your argument is that you have worked and deserve a second term, why pay out these huge amounts of money to the public. This is a good point, let it just be posted as it is without lusaka times moderating it which is now becoming common

  22. Is HH normal? He should just go and bring back the money that he starched in Panama use it for campaign. BoZ regulates money to institutions and not individuals. For as long as HH does not answer how he became rich over night and also explain what Sajani was saying, Zambians will never trust him.

    3
    8
  23. WHEN MP’S AND MINISTERS EXPLAIN THEIR WEALTH FIRST !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    THEN THIS CHAP HH WILL COME TO THE FRONT BUT NOT NOW
    MOST TRUST HIM …EXCEPT A FEW BLIND PEOPLE

    1
    1
  24. A FEW MONTHS AGO LUNGU TOLD US THAT HE WAS SEEING HUGE SUMS OF MONEY BEING DEPOSITED IN BANKS. WHAT HAPPENED, WHAT HAS DONE? HAS HE HAD A SLICE TO HIM?

    2
    1
  25. Some misguided souls who I am sure failed comprehension at School are busy attacking HH instead of answering his question. That is why even in an exam they say read the question properly before answering

    5
    1
  26. People are surely economically and economically dull in Zambia. What HH means in simplicity is this. The Bank of Zambia is the only institution authorized by law to print money. The money being displayed on social media whether by PF or UPND cadres have no economical activity behind it. Due to this, there as a possibility that the Bank of Zambia (BOZ) just printed money for the sake printing under the command of the PF and gave that money to the cadres. The leader of Bank of Zambia is Mvunga and he knows when the Bank of Zambia should print money not just anyhow.
    Its common sense that money on social media have got no economical cause behind it. The people displaying that money are not working anywhere. Therefore, it can be correct to hypothesize that BOZ under Mvunga printed money…

    9
    2
  27. Zambian people think that money is printed anyhow. See this. If Zambia is debt and have failed to pay there installment the second time now, they can just sit down and print billions of money and pay back there debts. But why are they not printing? Why is Zambia not printing money to make tar marks? There are rules that guides the printing of money people.
    Logic, if your bank account receives 1 billion Kwacha when you are not even working, no bank will allow you to withdraw that money not until you bring the documents that verifies where you got that money from.
    If the source of that money circulating on social media is not known, then the BOZ governor should be probed. Let stop supporting nonsense in the name of ignorance bane. Where you don’t know, do a research.

    4
    2
  28. It is great that there is someone like HH bringing these questions. Most of the bloggers are totally ignorant of the effects which can result from this type of money. As a start HH is right to ask the Bank of Zambia and other relevant institutions to establish the source of such loose cash. It is the responsibility of the Central Bank to control cash flows in the economy. If left unchecked, the inflation will go sky high and that is what is expected. Already withing a week the Kwacha has continuously dropped. For sure if that flow of cash is not controlled, by June, you will start carrying cash in wheel barrows and take the same route Zimbabwe took.

    3
    1
  29. FACT MONEY HAS BEEN PRINTED IN THE PAST AND MAY REPEAT MAY HAVE BEEN PRINTED NOW
    BLOGERS ABOVE ARE CORRECT THAT THERE ARE GUIDE LINES AND CHECKS AND BALANCES FOR GOVERNMENT TO FOLLOW
    LEAVING THE QUESTION DO WE HAVE A MORAL GOVERNMENT AND DO THEY REALLY CARE ABOUT SUCH MEASURES ??
    I DONT KNOW ? MAYBE OTHERS DO ??

  30. print more money, the economy is already fcuked any way…. p0rn front party thinking, under the worst president on earth…meno meno

  31. Zambian including learned people like HH have become so narrow minded. How can you honestly question BOZ about used local currency that has been in circulation for some time? I would only be worried if what was being displayed in public were new banknotes. What is on display is political psychology welfare. UPND needs to learn politics.

    1
    2
  32. CAN THE ADVISERS TO HH SET THEIR GAME IN MOTION. TO REMOVE PF FROM POWER THE OPPOSITION NEED TO BE SMARTER. PF WILL DISH OUT MONEY, USE PUBLIC ORDER ACT AND THE CURRENT CYPER BILL TO FURTHER CRIPPLE THE OPPOSITION COUPLED WITH THE LACK OF TELEVISION COVERAGE THE OPPOSITION ARE CURRENTLY SUBJECTED TO AND RESTRICTIONS DUE TO COVID-19. WHILST THE OPPOSITION ARE BEING KEPT AT BAY THE PF ARE FURTHER INCREASING COVERAGE USING A TOOL THE OPPOSITION ARE INGNORING OF WORKING WITH THE GRASSROOTS TO FURTHER THE CAUSE OF THE PF PARTY. IF OPPOSITION WILL CONTINUE TO LAX THEY SHOULDNT CRY FOUL WHEN PF CARRIES THE DAY IN AUGUST. EVERYONE IN GOVERNMENT OR IN THE CORRIDORS OF POWER WILL DO ANYTHING TO KEEP IT SO THIS SHOULD NOT SURPRISE THE OPPOSITION AT ALL.

    3
    1
  33. Rowdy Well stated !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  34. Zambia is currently engaged in bailout talks with the IMF.I wonder what lies ECL and his team were telling the IMF.
    IMF: So with the free cash going around and a Minister buying a helicopter, does Zambia need a bailout package?
    BOZ: You see Zambians are just jealous by nature.Don’t listen to them. The PF government is in control and we need the money.
    IMF: [email protected]#??%%$$

    3
    1
  35. Even Lusambo displayed K300,000 which he was handing out to marketeers, stating that it was from State house. From which account? ECL’s personal one? What arrangements are made for the withdrawal of such huge sums? The PF MP in Chilanga was doing the same. Nothing wrong in asking questions about the source of this money and whether it’s regulated. Don’t those marketeers have bank accounts for money to be transferred into – a process that helps as a check on money laundering?

  36. KZ THE BORN AGAIN CHRISTIAN READ YOUR BIBLE
    ESPECIALLY LEVITICUS IT SAYS AN EYE FOR AN EYE
    SO IN THE FUTURE YOU WILL BE KISSING BUMS KIKIKI

  37. See how silly klepto h² is.
    That video is one of the verified upndead choreographic chaos orchestrated by their dung camp. Upndead dung have gone on rampage fabricating fake videos to hoodwink unsuspecting citizens. Be awake, lol! Behold they are using evil and devilish tactics to f00l many. It’s the dead dung orchestrate.
    Kleptoh² has run out’a ideas. The nigga can also be f00led.
    He is losing it. What a pity.

  38. Once greedy, always greedy.
    It’s so painful to see handy people give out money to the needy when you have too much of it and you can’t give.
    We also want BOZ to tell us where the pensions funds collected by surtunya went. Where they banked in Zambia? Yes there is money circulating in our country. Is it not a crime to deposit money for Zambians in foreign countres instead of it developing our nation? Look at what napsa funds have done to develop our nation. But the surtunya pensions funds, collected from miners went in foreign countries, hence developing them. Let’s have some shame to even ask BOZ to explain where money being circulated in the nation is coming from. If it’s them, they will externalise everything. Zambians be ware of leopards in sheep’s skins. Open your eyes.

  39. Hyperinflation to follow soon. Riots & looting too. No one wins. Brace yourselves for hardships & ungovernable state & crime infested county even with all your millions you’ll be targets. Total lose-lose situation

  40. @Rowdy it starts with you to ACT and that is to vote PF out. If you don’t act then nothing will change or to see the change that you hope for. Don’t leave the job to HH alone,…HH is already on the ticket, so all what the electorates need to do is to vote wisely in 2021. Vote PF out completely…!

Comments are closed.

- Advertisement -
Loading...

Latest News

Zesco Face Blades Hurdle in ABSA Cup Semi’s

Zesco United turn their focus to the 2021 ABSA Cup this Saturday when they face Konkola Blades in a...

More Articles In This Category

- Advertisement -