Suspended RBZ Director Was Previously Suspended In 2007 By Gideon Gono Over Similar Allegations

Mirirai Chiremba who was last night suspended by RBZ governor John Mangudya over allegations of corruption and involvement in the foreign currency black market was previously suspended by former RBZ governor Gideon Gono over similar allegations. Chiremba who is the head of the Financial Intelligence Unit (FIU) was suspended back in 2007 after he allegedly exposed the RBZ’s role in purchasing foreign currency on the black market.

Chiremba who was responsible for raising foreign currency on the black market for the central bank was allegedly skimming some of the money by inflating the rates at which he had purchased the foreign currency. A source who spoke to The Zimbabwean back then said,

It was easy to fleece the central bank governor this way because no receipts were given from the black market. But the governor became suspicious when at one point Chiremba claimed the rates were at Z$250,000 to the US dollar when in actual fact the greenback was fetching Z$180,000 on the day in question.

Gono is reported to have engaged his own investigators who exposed the scam. However, Gono is reported to have been advised not to fire Chiremba as the move could have exposed a lot of officials.

More: New Zimbabwe

 

John MangudyaGideon Gono

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

Gideon Gono is the former Governor of the Reserve Bank of Zimbabwe (RBZ) a position he was in from 2003 to 2013. He is also former CEO of the CBZ Holdings, formerly known as the Commercial Bank of Zimbabwe, and Jewel Bank. Gono is known... Read More About Gideon Gono

1 Comment

  1. Anonymous Reply

    John Mangudya, fire the whole lot as our country can not succeed because of this crap. Please bring in younger people and don’t use nepotism when recruiting. We need to see all tribes every where.

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