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Alba Iulia
Monday, October 11, 2021

There is NO secret and illegal account being maintained by the Ministry of Finance- Accountant General,

Economy There is NO secret and illegal account being maintained by...

The Ministry of Finance has refuted some media reports suggesting that a secret and illegal account is being maintained by the authority.

Ministry of Finance Accountant General, Kennedy Musonda has clarified that the ministry only has one paying bank account, which is the Single Treasury Account.

In a statement made available to ZANIS today, Mr Musonda said that before any payment is transacted in the Single Treasury Account, it has to be processed through the Integrated Financial Management Systems (IFMIS), which is an electronic platform.

He emphasized that the Single Treasury Account is an interface between the IFMIS and the Real Time Gross Settlement (RTGS) system housed at the Bank of Zambia.

Mr Musonda explained that only when a payment has gone through this integrated process, only then can it be received by any person, persons or recipient entity.

“The established and authorized payment processes for the government are there to ensure that all payments made through the IFMIS are not only planned and approved, but properly authorized, too,” he elaborated.

The Account General added that it is also mandatory for any payment to be pre-audited by Internal Auditors to ensure compliance with all internal controls.

“The mandatory pre-audits by Internal Auditors are also aimed at maintaining a transaction trail which is then post-audited by the Auditor General, in accordance with the Constitution. For clarity, all payments for allowances are made to individual’s bank accounts to ensure payment trails for all the monies paid from the Treasury Single Account are maintained,” he stated.

17 COMMENTS

  1. Really , Mr Accountant-General? Come on, spill the beans. And how long have u known this? Who are signatories to the account?

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  2. FJTs Zamtrop account comes to mind…..

    We told you , Zambians will be shocked at how cooked lungus GRZ was………

    Lungu does not care how he messed up the country , as long as he gets his benefits and wiskey ……..

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  3. IS THERE A SECRET ACCOUNT OR NOT? CONFUSED !!! CONTENT AND HEADING SEEMS TO HAVE BEEN WRITTEN BY TWO DIFFERENT PEOPLE.
    BA LT INSTEAD OF PROOF READING YOUR ARTICLES, WHICH ARE FULL OF ERRORS, YOU SPEND RESOURCES ON MODERATING INNOCENT COMMENTS. RIDICULOUS.

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  4. We already know that funds were being misappropriated nowonder we kicked ECL. Let him enjoy his ill gotten loot after seeing all the chaos he left in his wake of poverty stricken Zambians who go to bed without eating, no clothes, no proper health insurance. I wonder how he sleeps at night maybe a bottle of Whiskey does the trick.

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  5. Upnd propaganda and Zambian politics. It happens all the time we transition and suspicion of the previous regime is rife. Look at Nelly Mutti, she’s going to be speaker today, but do you remember the hullabaloo that followed her when Sata was replacing RB?? The desire for a witch hunt is overwhelming amongst the upnd faithful and it might affect hhs ability to fulfill his promises.

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  6. #7  Zambian Citizen
     September 3, 2021 At 3:34 pm

    “Upnd propaganda and Zambian politics. It happens all the time we transition and suspicion of the previous regime is rife. Look at Nelly Mutti,………”

    42/42 …?….48 houses no ownership ….?
    $4.2 million for a toll gate..?
    EIA expose of mukula looting, we were promised sueing by the accused ??
    $280,000 for an ambulance that costs $80k…….?
    The first lady spending $1 million on shopping spree to get antique fire trucks ?……….

    ……….that is just the tip of the mountain…

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  7. The heading and the content of the story are the exact opposite. Please LT correct the error. It should read: There is NO secret and illegal account being maintained by the Ministry of Finance- Accountant General,

  8. Spaka, according to this Zambian Citizen dumb a** all that you have mentioned is upnd propaganda. Yaba shuwa either you were part of the theft in pf and you were benefiting than it makes sense, if not than you are plain and simple dumb!

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  9. Friday is here. I am just beginning to consume some 50 year old whiskey. Great tastes for expensive tastes. Let a upnd cadre disturb me this weekend and they will know who I am.

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  10. Imwe ba LT you need to get serious and probably employ qualified journalists and editors. The Heading and the content of the post totally contradict each other. The Accountant General is defending the Ministry of Finance whilst your heading seems to imply that he is confirming the existence of such an account. Get serious you all.

  11. Thank you for the correction. In future, make sure your editors proof reads topics and their headings because it seems making errors as become a norm to you LT.

  12. Ah! It is “Chaisa” Zulu again???
    This mambala tanaka ena???
    Ati 50 yr old whiskey – stop telling lies – Just gulp your kachasu without causing any further headaches!!!!!!

  13. Plan, Approve and Authorise. There is only one system connected to Bank of Zambia. Why can sanction other money withdrawals at the treasury? No one.

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