Mangudya Blames Chinamasa Over ‘Looted’ Funds

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has blamed former Finance Minister Patrick Chinamasa for the unlawful issuance of US$3,2 billion Treasury Bills from 2017 to 2018 mostly for the Command Agriculture Programme.

Mangudya was appearing before the Tendai Biti-led Public Accounts Committee to explain how the RBZ issued out the US$3, 6 billion TBs. Responding to Biti who had asked why the RBZ spent billions of money not approved by Parliament, Mangudya said:

The question should be referred to the Ministry of Finance who gave you the information. It is they who should answer to you. The money was not spent by the RBZ.

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We just get an instruction from the principal-agent (Finance ministry) who wrote letters for us to issue payments for Command Agriculture, and it is the Ministry of Finance who should give you the reasons why.

Mangudya insisted that he was being given instructions by the Ministry of Finance and had no legal basis to reject the instructions.

More: NewsDay

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