The government has released comprehensive information regarding the collection, security, verification, and authentication of funds forfeited by Faith Musonda. In a ministerial statement delivered in Parliament yestderday, Acting Finance and National Planning Minister Charles Milupi provided an in-depth explanation of the entire procedure involved in depositing and transferring the substantial sum of over 65 million Kwacha and 57 thousand United States Dollars.
Minister Milupi emphasized the transparency and accountability with which the process was conducted, assuring the house that all the necessary records pertaining to the transactions were readily available. The minister stated that the Bank of Zambia played a crucial role in ensuring the proper handling of the funds.
According to Minister Milupi, the primary evidence detailing the actual transactions and movement of funds can be examined through various statements involving the accounts, such as the Asset Forfeiture Account and CONTROL 99. These records serve as a comprehensive and transparent audit trail, allowing for thorough analysis of the funds’ utilization.
Addressing concerns about the purpose of the forfeited funds, Minister Milupi affirmed that the resources had been successfully transferred to the Ministry of Education. He further explained that these funds are actively being used to support vulnerable students through the provision of bursaries. This initiative aims to enable students who face financial difficulties to access quality education and create better opportunities for their future.