Croco Motors’ Banks Accounts Unfrozen

The Reserve Bank of Zimbabwe has lifted a freeze on Croco Motors’ bank accounts, following investigations which absolved the company of any wrongdoing.

RBZ Financial Intelligence Unit (FIU) director-general Mirirai Chiremba on October 29, 2019, wrote a letter to Croco Motors in which he said that no irregular transactions were observed. He wrote:

With reference to the above, we wish to advise that the FIU has concluded its analysis of your company’s bank accounts. The analysis did not reveal any irregular transactions.

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You are, therefore, advised to continue with your normal operations as the directive has now been lifted.

In September this year, the FIU sent a directive to all banks to freeze the accounts of several companies to facilitate investigations after there was a sudden spike in the exchange rate.

Croco Motors was one of the companies that were under the RBZ’s radar.

More: Daily News

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