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RBZ Director back in court

by Staff reporter
11 Jan 2019 at 18:58hrs | Views
The suspended Reserve Bank of Zimbabwe director who appeared in court last year facing abuse of office was yesterday back in court for routine remand.

Mirirai Chiremba yesterday appeared before Harare magistrate Ruramai Chitumbura and placed the State on notice that on his next remand date, he intends to make an application for relaxation of bail reporting conditions.

Chiremba was released on $6000 bail and was ordered to report three times a week at CID Commercial Crimes Division.

Chiremba is alleged to have raised the daily withdrawal limit of a company he had interests in without following due diligence.

Allegations are that on October 13, last year, Suzan General Trading opened an NMB account at the Borrowdale Branch which was meant to facilitate payments by Fidelity Printers and Refiners for gold delivered by Suzan and at the time, the corporate withdrawal limit was $10 000 per day.

On October 27, Suzan through one of its signatories, Shah Saumilkumar filed an application to NMB requesting for the withdrawal limit to be raised to $30 000 and the bank carried out reviews of the application before transferring it to the RBZ financial unit for processing.

Chiremba approved the application on November 3 and on February 23, Suzan successfully applied for their daily limit to be increased to US$95 000 due to business expansion.

Suzan tendered another application for the limit to be raised to US$195 000 on August 3 which Chiremba allegedly approved before it was processed by the RBZ Financial Intelligence Unit.

Source - hmetro