BoZ panics, trying to cover theft of Access Financial Services money

BoZ panics, trying to cover theft of Access Financial Services money

Bank of Zambia Internal memos leaked to the Watchdog show that the central bank is trying to cover up the incompetence and theft of money during and after the liquidation of Access Finance Services and Access Leasing.

One of the former directors of AFS Aaron Chungu has already gone public to claim that over one billion Kwacha belonging to his company has not been accounted for.

An accusing finger has been pointed at liquidators at Bank of Zambia and former officials and lawyers for the Levy Mwanawasa era Task Force on Corruption.

Current Director of Public Prosecution (DPP) Mutembo Nchiot is singled out as one such official who has stolen the money belonging to Access Financial Services.

One aspect of the allegation of plunder is that when the Task Force on Corruption seized properties belonging to these companies (Houses) they continued receiving rent money from the property but that such money has not been accounted for.

The Bank of Zambia, on 20 February, 2012, internally charged its Liquidation Manager Marshal Mwansompelo with gross negligence of duty in relation to the liquidation of Access Finance Services. Mwansompelo was also charged with incompetence and substandard work output and inefficiency in the manner Access Financial Services and Leasing were liquidated.

But when the directors of Access Financial Services revealed that their money has been plundered and went to court to seek recovery and accounting, the Bank of Zambia went into panic mode and is trying to cover-up.

One of the first steps the Bank has taken is to drop the charges of negligence and incompetence by its

Liquidation manager.

Leonard Nkonde Kalinde, one of the in-house lawyers for bank wrote a memo to the deputy governor for operations advising that the charges against the liquidation manager be dropped.

Kalinde, says he is Dr, feared that if Mwansopelo is found guilty internally, it will mean that the bank is guilty as claimed by the Access Financial services owners.

Kalinde also expressed fear that if Mwansopelo is fired for, he will turn against the bank and instead testify for the owners of Access Finance Services.

Share this post