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Kasukuwere, Moyo bank accounts frozen by RBZ

07/12/2017 00:00:00
by Staff Reporter
 
Bank accounts frozen ... Jonathan Moyo
 
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THE Reserve Bank of Zimbabwe (RBZ) has ordered all financial institutions to freeze the bank accounts of former cabinet ministers Jonathan Moyo and Saviour Kasukuwere.

A CEO with one of the country’s commercial banks confirmed the development to told NewZimbawbwe.com Thursday.

“It’s normal practice; we receive these orders regularly. It’s part of (RBZ’s) monitoring exercise,” said the CEO who preferred not to be identified.

“In accordance with the RBZ Act, the central bank can order the suspension of banking services to individuals suspected of money laundering.”

Moyo immediately condemned the move on twitter.

The two politicians, leaders of the ruling Zanu PF party’s G40 faction, are believed to have escaped into exile after the military coup which toppled former president Robert Mugabe last month.

In the directive, the RBZ said told banks that; “You are directed to identify and immediately freeze all accounts in the name of (Kasukuwere and Moyo), any accounts in which the said individuals are directors, or have a known beneficial interest.

“You are further directed to submit in writing to the unit by no later than the 8th of December 2017 listing and giving particulars (including balances) of all the accounts that you would have identified and frozen in terms of this directive.

“Where you have not identified any relevant account, you shall nevertheless submit a nil return. Where you are in doubt regarding whether or not any particular account is linked to the named subjects, you shall contact for further direction.

“The effect of the freeze is that (except any inflows into the account which shall be processed normally and immediately notified to the unit) no other transaction shall be processed from a frozen account, until further the unit directs otherwise.”

Commenting on Twitter Moyo said, “If it is … legitimate official communication, then the law of the jungle is in operation in the so called New Era!”

He added, “The real risk & possibility that bank accounts can be frozen just like that without due process in the so called New Era in Zimbabwe run by the Military, spells doom for ordinary people or businesses and worse for investors!”

MDC-T spokesperson Obert Gutu said the RBZ’s move appears to be rooted in Zanu PF’s factional politics where embattled G40 are being put to the sword after losing the ruling party’s succession war.



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He said an MDC-T government would deal with all criminals regardless of their political allegiances.

“Surely, the anti - corruption crusade cannot only target members of one faction of the ruling party. There is prima facie evidence that other top Zanu PF politicians, including serving Cabinet Ministers, are extremely corrupt. We expect these criminals to be targeted as well,” said Gutu.

“Certainly, there are other top Zanu PF politicians, over and above these two men, who should also be investigated for alleged corrupt deals. Even some recently appointed Cabinet Ministers have got a prima facie case of corruption against them.”


 
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