BREAKING: CBZ “Caught Smuggling Cash To The Black Market”

The Commercial Bank of Zimbabwe (CBZ Holdings) has been accused of smuggling new coins to the parallel market money.

The alleged scandal was disclosed by popular twitter who is also a ZANU PF crusader, @matigary who said:

It’s not enough to demand an explanation to these @CBZHoldings seals on the coins.

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It would be silly to imagine RBZ did not anticipate that bank notes would not be on the street. This has happened over and over when new notes are introduced. OVER & OVER.

The QN is why was it not anticipated & nipped in the bud. Controls nhai Mangudya?

These reports come after the circulation of a picture of a bin container full of bond coins on social media with some alleging that the bank was pumbping cash into the parallel market.

The central bank, the Reserve Bank of Zimbabwe this Tuesday introduced $5 and $2 notes, as well as $2 coins and whilst banks, are still issuing limited amounts of money to account holders, currency dealers on the parallel markets seem to be in possession of huge amounts of these new notes already.

More: Mining Zimbabwe

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