Mr Banda has been charged with abuse of authority in connection with procurement of crude oil from a Nigerian firm.
The former president has however been released on police bond. He will apear in court on Tuesday. His passport has been grabbed but this does not stop him from attending international engagements as just has to request the court to release it.
He was released on bond after producing two working sureties, who are MMD vice president for administration Brian Chituwo and his administrative assistance Mikatazo Wakumelo.
Speaking after his release, his lawyer Sakwiba Sikota says it is still very clear that the investigations team does not know why they are interrogating his client.
And Mr. Banda says he is ready to go through the entire process because he is a law abiding citizen.
And confirming the arrest and release of the former head of state, investigations team spokesperson Namukolo Kasumpa confirmed that Mr. Banda has also surrendered his passport.