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Besnat Mwanza
BOZ assistant director for communication Besnat Mwanza

The Bank of Zambia (BOZ) has noted with concern allegations circulating in some sections of the media suggesting that Bank officials were ordered to withdraw huge amounts of cash from the Bank to distribute to third parties.

The Bank has since dispelled the allegations in the strongest terms and stated that they are false and unfounded.

BOZ assistant director for communication Besnat Mwanza has explained in a statement that as reported by the Zambia Police Service, the money recovered in Lusaka was found packed in travelling bags and had to be transferred to the Bank of Zambia for safe keeping.

“This, therefore, necessitated the use of lockable and sealable trunks to safely transport the money from the point of seizure to the Bank” she said.

She said the Bank of Zambia does not hold accounts for individuals but interacts with the public in terms of the issuance of currency through commercial banks.

Ms. Mwanza further said the public only have access to currency through various channels offered by financial service providers such as Automated Teller Machines, over – the – counter and their agents.

“Members of the public cannot access cash directly from the Bank. False reports suggesting otherwise have the potential to tarnish the image of the central bank and destabilise the financial sector and the economy” she said.

She has urged members of the public to desist from circulating false news adding that the matter under investigation on the seized cash is being handled by the Zambia Police Service to whom any further queries are referred.

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