The Centre for Trade Policy and Development (CTPD) says it is deeply concerned with President Hakainde Hichilema’s delay in appointing the Board of Directors of the Financial Intelligence Centre (FIC).
CTPD Executive Director Isaac Mwaipopo said that the delay will work towards weakening the operations of the Financial Intelligence Centre which has continued to operate without a Board of Directors for over a year since Finance Minister Situmbeko Musokotwane Dissolved the Board.
Mr. Mwaipopo stated that CTPD, is also concerned with the increasing prevalence of illicit financial activities in Zambia.
The 2022 Financial Intelligence Centre (FIC) Trends Report has unveiled the urgent need for collaborative actions to combat financial crimes and enhance transparency and accountability in Zambia s financial systems.
“Corruption continues to infiltrate our institutions, as evidenced by the FIC’s analysis of suspected corruption cases valued at approximately ZMW 1.6 billion. Abuse of office and procurement corruption remain rampant, with fraudulently awarded public procurement contracts being a recurring issue. The involvement of politically exposed persons (PEPs) in these irregularities further emphasizes the need for stringent measures to address corruption,” he stated.
