BoZ Directors, PF founder members defraud BoZ employees out of Millions

A scam has been un earthed in which several Patriotic Front founders and Bank of Zambia directors  have defrauded the Central of Zambia unionised employees of millions of Kwachas that has led to the death of one person.

Information gathered is that Dr. Mabula Kankasa the BOZ Deputy Governor for Administration, Mr. Gilbert Temba the BOZ Board Vice Chairperson, Mr. Nobert Mumba a Director at BOZ and Mr. David Ngandu now deceased who was Chief Executive Officer of the Kwacha Pension Trust have defrauded millions of Kwacha.


The above named together with others currently unknown inflated the cost for the construction of a Shopping Mall along Lake road in Lusaka that houses Choppies Supermarket just next to Crossroads shopping Mall. The said people have also been diverting money collected as rentals from several properties owned by Kwacha Pension Trust including a building just next to Trinity United Church of Zambia (UCZ) church along Church road in Lusaka. Some BOZ employees discovered the scam and reported the matter to the Anti Corruption Commission (ACC).

Upon disvovering that they were being trailed, Mr. David Ngandu fled to The United States of America pretending to have gone for further studies while Mr. Nobert Mumba who is brother to former Finance Permanent Secretary Stella Chibanda who was also implicated in Zamtrop scandal during the Late President Levy Mwanawasa’s administration also fled to Geneva also on pretext that he had gone to study. Mr. Mumba is still abroad.

There escape is said to have been facilitated by some senior government officials including Mabula Kankasa and Gilbert Temba. Unfortunately for Mr. David Ngandu the CEO for Kwacha Pension Trust, his Visa for stay in USA expired. On Saturday 10th March 2018, he returned from the USA and upon arrival at The Kenneth Kaunda International Airport, he was detained by the ACC and his Laptop and several belongings confiscated before he was released and asked to report to the ACC on Tuesday March 13. 2016. Mr. Ngandu went home and committed suicide.

The group is believed to have bought several houses from the National Housing Authority (NHA) in Ibex Hill in Lusaka near the American Embassy. Dr. Mabula Kankasa is related to Higher Education Minister Nkandu Luo and has had her contract extended several times. Gilbert Temba is one of the PF founder members and a close ally to former Finance Minister Alexandra Chikwanda. It was Chikwanda who appointed him to the BoZ board. Ironically, Temba is also Kwacha Pension Trust Board Chairperson.

Mabula Kankasa

Kwacha Pension Trust is a scheme owned by BoZ unionised employees.


  • comment-avatar
    aya 5 days

    Ewee nobert, you are a liar, walibafye and you think you will get away with it. Just wait mwaiche. we are still working on it. Natwishiba you are in malaisya upgrade your grammar in English. watch out koswe

    • comment-avatar
      Hachandi 5 days

      Utuma facts briefly kabili baka’amba…Nobert nasopolola briefly. Could you give us utuma tips of what to expect?

      • comment-avatar
        Kritique 4 days

        What pack of lies and gutter journalism! Ignorance is rampant and deep at watchdog . Kwacha Pension Fund is not owned by unionised empoyees nor is any pension fund that I know. Sadly, you bury a little truth in a ton of lies and innuendos that in the final analysis your story is so grotesque it is unbelievable.
        What has Mr Gilbert Temba being a founder member of PF got to do with the Kwacha Pension Fund? Of course there has been serious thefts and frauds at the pension fund and some of the people you mention may be culpable however the net must be cast wider to include PIA. This body was created to oversee the operations of Pension Funds.But it has lamentably failed not just the Kwacha Pension Fund but Surtunia Regna and I believe many more. While I and I believe many more are grateful and equally sad at the turn of events involving David Ng’andu I would encourage a more diligence in search of truth will go a long way. The preoccupation to find political mud in anything is sad and makes the watchdog the dog it really is…


        • comment-avatar
          Hachandi 2 days

          If you’ve noticed, they’ve been quiet about this issue for days now. What’s going on? No proper facts?

    • comment-avatar
      Norbert 1 day

      I am never bothered by anonymous characters thats cheap cowardice. You dont hide in anonymity to tarnish reputation we build in years. I speak for myself. You will turn your ancestors graves upside down you will never find a dirty kwacha on me. Off course you know where i am because i shamed your lies about Geneva and told you where i am. Come out in the open

    • comment-avatar
      Scarface 2 hours

      Lol. Look who is talking about English and grammar. 😂😂 Facts were presented. You have nothing but claims. Give it a rest.

  • comment-avatar
    Hachandi 5 days


  • comment-avatar
    Hachandi 6 days

    Yayayaya, ba watch poppy ati shani? Mumba alanda. Muletipo shani??? Am glued to this space!!!!!!

  • comment-avatar

    Dear Editor,
    Firstly I would like to thank you for fully expressing to the open world how cheap and malicious you can be and indeed how shallow you can be on your research and how despite the abundant availability of technology you can fail to get the basic and publicly available information right. To expose the fact that you just sit in your bedrooms and dream up information and so-called sources, herein is a seriatim response to your cheap allegations. I therefore hope you will be magnanimous enough to admit your malice and render an appropriate retraction of your story and to take to task your so-called sources assuming they even exist.

    Firstly I not a Director at the Bank of Zambia having retired in January 2014 on attainment of the statutory age of 55 years. So that is fact No.1 and Lie No.1 on your side. Secondly I no longer serve as a Trustee on the Pension Fund having resigned my position following difficulty in timings for Board Meetings given the 6 hour time difference with my current location.

    Secondly, during my service at the Bank of Zambia and as the employee elected Trustee on the fund (Watch the emphasis on employee elected to discount your lie that I was on the side of your perceived political interest. Which Fact No.2 and Lie No. 2 on your part), I had neither duty nor opportunity to deal with funds for me to have defrauded a single kwacha from the fund. So the is your lie No.3

    Thirdly you write that fled to Geneva on the pretext that I was going to study Iam sure you must by now be laughing at yourself as I retired from Bank of Zambia four year ago and not to study. So that is fact No 4 and your lie No. 4

    Fourthly you write that I am in Gevena. I am not in Gevena but Kuala Lumpur Malaysia not to study but on an international job and my departure from Zambia was publicly covered by the Zambia Daily under the headline “Zambian Lands Top Job” So because of your malice and greed you were blinded by truth. In addition I make very high level global engagements that if you cared to Google Search “Norbert Mumba” you will find close to 10 pages on me on Google search. So that is Fact No 5 and your lie No. 5

    While I do not find any linkage to your story of my sister Stella Chibanda, at least you got the relationship right that she is my sister and proudly so. Suffice it to say the malice and lies that you perpetrate in your article on me is exactly the same malice that surrounded my sister. But eventually the truth came to bear and I am proud she is coping with this and one day we shall see finality.

    You also state that the group is “believed to have bought several houses from National Housing Authority” which given your statement includes me. Neither I or any member of my family owns any property of whatever description or nature bought from the National Housing Authority. This fact No. 6 and your lie No. 6. The properties we own as family are publicly available and the sources of funding have all been known a clearly traceable origins and with our main banker Barclays Bank Plc Zambia including proceeds from my current job. I can gladly request my Bankers to provide to your a print out of inflows and outflows if you are able to come out from your shells.

    In totality, you are shameless liars bent on injuring the reputation I have built for years, unfortunately for you my reputation and zero tolerance for corruption has long origins and foundation that it is cast in indelible ink.

    Given the aforesaid you may wish to salvage your own reputation by rendering an appropriate retraction and apology.

    And may I remind that a “Watchdog” that lies to its master digs its own grave and sends its master the wrong direction.

    I would also appreciate that you could uplift this reply from here to an article on your front page.

    Best Regards
    Norbert Mumba

    Finally you make reference to fleeing. I am one of the diaspora that loves home and has many opportunities to visit home. I come to Zambia about two to three times a year. the latest being Dec 19 2017 to January 2018. So that is your other lie

  • comment-avatar
    kazeya 1 week

    @Preacherman,You are pot-on,it is all vanity!I have not seen Mansions & cars buried with the owners at Leopards Hill

  • comment-avatar

    Sadly, that’s not unique to Zambia.

    • comment-avatar
      Neymor 7 days

      Are you sure. Maybe you live in another country? According to Forbes in case you don’t read, your country is rated 6th in the world for corruption!

  • comment-avatar

    These are matters that make me wonder as to what king of a Country Zambia has become! The Central Bank is a very highly respected institutions vested with serious national responsibilities. This is the last place where to find a thief but now look at this scandal. How can we have confidence in the BOZ staff that our money is safe if the can steal from people that work with them and who can easily notice these thefts. We are outside BOZ and so what guarantee can we have that our monies are safe? Our humble and God fearing Leaders, wake up work for us the poor. Keeping quiet on such matters will only make things worse for us and yourselves.

  • comment-avatar
    Socrates 1 week

    Inflating the cost of projects is what all these people (Ministers, CEOs, etc) involved in corruption are doing! They know it!

  • comment-avatar
    Preacherman 1 week

    Death is fair. whether you steal billions, at the end if it all someone will decide for you what you will be wearing on your burial day. Above all you will stand before the Almighty God and give an account of how you lead your gift of life. Remember you thieves that you will not enter the kingdom of God with physical wealth.
    Repent and be a steward for God. ALl these moneyz you are stealing is all vanity.
    Work for God and there is joy and happiness. Noe see someone has already comited suicide and money has nit saved him.
    Hiw are you going to stand before God?

  • comment-avatar
    Blago 1 week

    Zambia, a country of institutional thieves.