"We Will Not Raid Your Nostro Accounts", RBZ

The Reserve Bank of Zimbabwe (RBZ) has dismissed social media reports and insisted that it will not raid depositors’ Nostro Accounts.

This follows reports over the weekend that the Apex Bank will has banned banks from dispensing US dollars to FCA Nostro Account holders. In a statement via microblogging site, Twitter, the RBZ said:

The Reserve Bank of Zimbabwe would like to dismiss the social media reports suggesting that Nostro Accounts will be raided by the RBZ and Ministry of Finance and Economic Development.

This assertion should be dismissed with the contempt it deserves. There hasn’t been any change in the operation of Nostro Accounts.

The RBZ has consistently been changing goalposts through its statements and Statutory instruments with the transacting public losing all confidence in the system.

Recently, the RBZ banned mobile money companies from using cash-in and cash-out platforms only to reverse the decision barely 48 hours later.