Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has insisted that the RBZ is not involved in the foreign currency black market despite the suspension of four senior directors. The directors, Norman Mataruka (banks supervision), Azvinandava Saburi (financial markets), Mirirai Chiremba (financial intelligence) and Gresham Muradzikwa (security) were suspended following allegations by short-lived Chairperson of the Ministry of Finance’s Communications Task Force, Acie Lumumba using Faebook live video.. Mangudya insisted that the central bank had investigated the same allegations before and found no evidence. Speaking to The Standard, Mangudya said,
This issue was raised in many fora (before) and last time we gave them information. So, the same issues are being raised and we thought the best way was not to continue giving reports but to have the audit and oversight committee investigate the team…Last time, we did do some investigations and they showed us that there was nothing like that and we discussed it with the former Finance minister (Patrick Chinamasa) many times and sometimes gave evidence…I still stand by that comment that the Reserve Bank is not involved in the parallel market…“Our audit committee, which is independent, is looking at that matter, but we don’t have any foreign currency, which is missing at the bank.
However, Mirirai Chiremba who is the head of the Financial Intelligence Unit (FIU) was previously suspended back in 2007 by Gideon Gono after he allegedly exposed the RBZ’s role in purchasing foreign currency on the black market.
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More: The Standard