FMB took to Twitter to deny Chaponda has K598mil at the bank

First Merchant Bank (FMB) has rejected rumours that fired Minister of Agriculture George Chaponda, currently embroiled in a maize procurement scam, had  K598 million as current balance in his account with the bank.


The rumours came following  a raid by the Anti-Corruption Bureau (ACB) and Police found cash stashed in suitcases at Chaponda’s residence.

ACB investigators confiscated K124 million, $57 500, 2 720 Indian rupee, 518 Ethiopian birr, 610 Pula, 1 200 meticais, 1 250 Kenya shillings, 80 Hong Kong dollars, 1 010 Japanese yen, 22 370 South African rands, 55 euros, 29 Zambian kwacha and 100 Namibian dollar.

FMB took to Twitter to dispel the rumours on Chaponda’s bank balance at the ban.

The bank tweeted: “FMB has noticed that there are ficticous statements circulating in the social media that the former Minister of Agriculture ,Dr George Chponda has MK598 million in deposits with FMB.

“FMB wishes to clarify that these comments are false and unsubstantiated.They are an attempt to mislead the public and malign the image of the bank which is a credible and responsible banking institution in the country.”

The bank has also been abused by social media users following a leaked information which purportedly revealed salaries of employees of FMB Bank,

The publication, release or sharing of the said payroll on social media was a breach of confidentiality,  a crime and the culprits must be dealt with accordingly, said Media Committee of Parliament chairperson Sam Kawale.

According to Kawale, the law makes provisions that private information can and should only be made public with consent from the owner.

He further explained that issues of salaries and contracts for private entities should remain private.

“People’s dignity and respect have been eroded, and you never know, personal and family security might have been put at risk. The passing of the Bill seems to have been misunderstood by some people, or is being deliberately misunderstood by some,” Kawale wrote on his Facebook timeline.

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7 years ago

FMB you had better been quiet…. Its only talking for fear that customers will lose trust in your leaking bank….. I for one still believe that Chaponda has that sum. It is as true as the leaked salaries

Truthful Reader
Truthful Reader
7 years ago
Reply to  chimanga

Yes, but unfortunately sir, you also probably believe that the earth is flat, that Elvis is still alive and that the moon landing was fake. Please excuse those of us who believe in fact when you read your statement and think you are nothing but an uneducated, slightly stupid angry man.

7 years ago

we know you well than how you are explaining through twitter. this FMB stole public money through these guys chaponda

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