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RBZ freezes Redan Coupons' bank accounts?

by Mandla Ndlovu
29 May 2020 at 12:56hrs | Views
Former Daily News Editor Stanley Gama has reported that the Reserve Bank of Zimbabwe Financial Intelligence have frozen accounts belonging to fuel giant over allegations of being involved in illegal forex dealings.

Said Gama, "My sources at a commercial bank tell me that the Financial Intelligence Unit (FIU) has frozen Redan Coupons' account with immediate effect accusing them of illegal forex dealings! Details still coming through! I hear more companies face the leash."

The controversial Redan Petroleum which is reportedly linked to fuel giant Kuda Tagweire once courted controversy after it was accused of selling fuel to parliamentarians at double the normal price.

The FIU is reportedly going after accounts of companies belonging of Tagwirei whom they accuse of being involved in illicit financial flows.

In 2019, RBZ's Financial Intelligence Unit (FIU) ordered banks across the country to freeze the accounts of some named entities as authorities at Munhumutapa Building were implementing recommendations by the International Monetary Fund to adhere to fiscal discipline and have the Staff Monitoring Programme back on track.

Accounts of  Tagwirei's Sakunda Holdings, Access Finance, Spartan Security and Croco Motors, were frozen amid reports of money laundering.



Source - Byo24News

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