BOZ Refutes allegations about cash withdraw

The Bank of Zambia BOZ has strongly dispelled rumors circulating in some sections of the media suggesting that the bank officials were ordered to withdraw huge amounts of cash from the bank to distribute to third parties.

BOZ Assistant Director Communications Besnat Mwanza says as reported by the Zambia police service, the money recovered in Lusaka was found packed in travelling bags to be transferred to the bank of Zambia for safe keeping, which therefore necessitated the use of lockable and sealable trunks to safely transport the money from the point of seizure to the bank, of which the matter is being investigated and handled by the Zambia police service.

Ms.Mwanza states that the bank of Zambia does not hold accounts for individuals but interacts with the public in terms of issuance of currency through commercial banks and that members of the public cannot access cash directly from the bank.

She notes that, such rumors are false and unfounded, and have the potential to tarnish the image of the central bank and destabilize the financial sector and the economy.

She has further urged the public to desist from circulating false news.

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