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.

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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