Illegal Foreign Currency Dealer Sentenced To Eight Months In Prison

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The Zimbabwe Republic Police (ZRP) says that there are illegal foreign currency dealers who have so far been arrested and convicted. This comes after the government passed legislation outlawing trade in foriegn on the streets. Illegal foreign currency dealers were accused of speculative behaviour resulting in the loss of value to the bond notes. ZRP has warned members of the public to desist from engaging in illegal foreign currency dealings. Police Spokesperson Charity Charamba had this to say

They were charged and convicted for contravening section 5(1) (a) (11) of the Exchange Control (Amendment) Regulations 2017 (Number 5), Statutory instrument 122A, which criminalise illegal dealing in foreign currency. Nicky Masikati was sentenced to pay a fine of $1 000 while Oscar Sixpence was sentenced to eight months imprisonment… Police are warning members of the public to desist from engaging in such nefarious activities as they risk being arrested and jailed.

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1 Comment

  1. Musiwacho Reply

    But there is an open illegal foreign currency dealing where shops are charging Us dollar prices and for bond rate at US$1:3.50 Bond. These are the ones they should arrest

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