Former Finance Minister Friday Jumbe says President Joyce Banda is likely to lose the fight against the looting of public funds at Capital Hill if authorities will maintain the snail’s pace in handling the cashgate scandal.
Speaking during the Contemporary Issues program on Radio Islam on Saturday, Jumbe said President Banda has completely diverted from her promise of handling the matter with urgency when she briefed leaders of the opposition and other stakeholders on the action the government is taking on the matter.
“The way she talked gave us the impression that she will deal the issue with urgency and this makes us now wonder whether she was saying this to please us,” said Jumbe
He said other leaders would have set up a special tribunal to fast track the cases and address the problem otherwise “I have a feeling that the case will die down like the Chasowa case.”
“We have heard that there are also many companies mentioned as conduits of the stolen money, many people were paid without doing any service to the government but until none of these companies had their owners arrested,” he said
Jumbe also wondered why the government is involving the Anti-Corruption Bureau in the issues which he says it purely of theft in nature, saying the cashgate issue is not corruption but fraud which is different from corruption.
The former finance minIster also wondered why until this time government has not extended its investigation to commercial banks which were issuing payments to dubious companies.
He also disclosed that introduction of K1, 000 was aimed to facilitate the easy siphoning of money from government coffers by the then administration.
“Believe it or not, those involved in the scandal saw that it was too bulky to be carrying huge sums of cash in five hundred Kwachas. So they decided to introduce ‘Aluvera’ for easy carriage of the looted funds.”
He suggested that another way of catching the looters is by declaring that K1,000 should stop to be legal tender in Malawi and those having them should return them to the banks in exchagfe of five hundred kwachas.
“You could have seen these looters panicking. And I know that no one can propose this because all the stolen money is now in one thousand Kwachas and they are keeping them in their pillows”.Follow and Subscribe Nyasa TV :