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CBZ manager fired over missing RTGS3,000
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A former Commercial Bank of Zimbabwe (CBZ) branch manager who was fired over financial irregularities involving RTGS3 000 has lost his appeal at the Labour Court, which upheld his dismissal.
Court papers show that Panganai Muza, who once headed a CBZ branch, was hauled before a disciplinary committee on allegations of misconduct dating back to between January and July 2019. He was accused of signing falsified EcoCash reconciliations, taking cash from the bank using IOU notes, and allowing his subordinates to do the same.
Muza was further charged with failing to enforce adherence to overnight EcoCash limits as prescribed in the EcoCash agent procedure manual, and of presiding over breaches of Reserve Bank of Zimbabwe (RBZ) weekly cash withdrawal limits. He also allegedly failed to ensure proper accountability for EcoCash agent commissions by his team.
Following the disciplinary hearing, Muza was found guilty and dismissed. His internal appeal failed, prompting him to take the matter to the Labour Court.
In his submissions, Muza argued that there had been no credible evidence proving he personally took RTGS1 584 from the bank using an IOU note. He also denied breaching overnight EcoCash limits and pleaded for a chance to reimburse the missing funds.
CBZ opposed the appeal, stating that Muza, as branch manager, was well-versed in EcoCash reconciliation procedures and bore full responsibility for the actions of his subordinates. The bank maintained that his conduct breached client trust and justified dismissal.
Labour Court judge Justice Samuel Kudya agreed with CBZ, noting that the record of the disciplinary hearing contained ample evidence against Muza. "At the end of the day, the only question to be asked by the court is: Can it be said that the decision to find him guilty and to dismiss him was grossly irrational? It cannot, if regard is had to all the evidence on record," ruled Justice Kudya.
The court added that Muza's offer to pay back the money did not erase the fact that serious breaches of EcoCash standing procedures had occurred under his supervision.
"The appeal being without merit in its entirety, it is dismissed with costs on the ordinary scale," the judge concluded.
Muza's dismissal from CBZ therefore stands, with the court reinforcing the principle that bank managers are ultimately accountable for financial integrity and regulatory compliance at their branches.
Court papers show that Panganai Muza, who once headed a CBZ branch, was hauled before a disciplinary committee on allegations of misconduct dating back to between January and July 2019. He was accused of signing falsified EcoCash reconciliations, taking cash from the bank using IOU notes, and allowing his subordinates to do the same.
Muza was further charged with failing to enforce adherence to overnight EcoCash limits as prescribed in the EcoCash agent procedure manual, and of presiding over breaches of Reserve Bank of Zimbabwe (RBZ) weekly cash withdrawal limits. He also allegedly failed to ensure proper accountability for EcoCash agent commissions by his team.
Following the disciplinary hearing, Muza was found guilty and dismissed. His internal appeal failed, prompting him to take the matter to the Labour Court.
In his submissions, Muza argued that there had been no credible evidence proving he personally took RTGS1 584 from the bank using an IOU note. He also denied breaching overnight EcoCash limits and pleaded for a chance to reimburse the missing funds.
CBZ opposed the appeal, stating that Muza, as branch manager, was well-versed in EcoCash reconciliation procedures and bore full responsibility for the actions of his subordinates. The bank maintained that his conduct breached client trust and justified dismissal.
Labour Court judge Justice Samuel Kudya agreed with CBZ, noting that the record of the disciplinary hearing contained ample evidence against Muza. "At the end of the day, the only question to be asked by the court is: Can it be said that the decision to find him guilty and to dismiss him was grossly irrational? It cannot, if regard is had to all the evidence on record," ruled Justice Kudya.
The court added that Muza's offer to pay back the money did not erase the fact that serious breaches of EcoCash standing procedures had occurred under his supervision.
"The appeal being without merit in its entirety, it is dismissed with costs on the ordinary scale," the judge concluded.
Muza's dismissal from CBZ therefore stands, with the court reinforcing the principle that bank managers are ultimately accountable for financial integrity and regulatory compliance at their branches.
Source - The Standard
