K340m fraud at Reserve Bank of Malawi: Manager Mchakulu under investigation
Reserve Bank of Malawi (RBM) is investigating its manager (financial operations) Charles Mchakulu after an audit results revealed that K340 million has been stolen.
The central bank has included in the probe, other law enforcing agencies such as Fiscal Police, Financial Intelligence Agency (FIA).
RBM spokesperson Mbane Ngwira said: “K340 million is suspected to have been stolen”.
Ngwira said the fraud has been discovered after the results of an audit.
“The suspected employee has been making unsupported transfers from a government ORT [other recurrent transactions] account to a stationery supplier, Ideal Stationery,” he said.
FIA director Atuweni Juwayeyi-Agbermodji confirmed they are taking part in the probe of the fraud but decline to give further details, saying it is “an ongoing investigation.”
On June 12 2019, FIA reportedly obtained a freeze order with Mchakulu and Lucy Rachael Sukali trading as Ideal Stationery, whose account was used as a conduit to siphon money from the central bank, as respondent.
The bank account at National Bank of Malawi, Victoria Avenue Service Centre in Blantyre had a balance if K120 917 295. 60 at that time of the order freeze.
The order in civil case number 432 of 2019 further restrains residential property at plot number Area 6/137 and residential property number Area12/460.
This is Malawi under DPP, sad state and people suffer
Koma kuphuzila kwina kwa nyasa a mncakhulu. Mmene mumaonekela muja mwasowetsa ma number aakulu conci???
Tikumva zambili. Now bola kusunga ndalama m mbiya ndithu
very much desappointed in dpp govement but you to chance avail after volting ndalama zija zaikanso mbava mmboma
This thug should be given life sentence with hard labor.. Let him rot in jail..
This guy was stealing to support MCP and Chakwera
Zinapita ku campaign izi. The case will never see the light of the day! Mark this post.
my Malawi why?
theft at CENTRAL bank ??? do you even know that means to the world at large ???
Mmmh dziko laonongeka ili mpaka ku reserve bank katangale mmmh, that’s DPP led government.
Adayamba ndi mbwiyanu Bingu Wa Muntharika kuba nanga inu mutani.
Wabayo ndi wa MCP. He sponsored Chakwera
where shall our money be safe? greed everywhere. not so long ago it was an employee of NBS! Oh no Malawi! let us be ethical.
kwacha under attack, standard bank and nedbank culprits for kwacha depreciation, these foreign banks licences should be withdrawn.
Poor controls at the central bank? Comical.
Malawi at 54 years, which institution do we trust now?
Malawi sadzatheka….. Malawi ndi dziko lomwe lili ndi anthu akuba kwambiri pa dziko lonse lapansi. Kuyambira pulezident kukafika kwa mwana wa zaka ziwiri onse akuba okhaokha. (Ma Genes akuba ali mmagazi}
I agree with you. Many Malawians working in SA shops angokhalira kugwidwa ndi kuba. Amazimvetsa chisoni akudandaula kuti akufuna ntchito, akufuna kubapo basi. Amabanso mopanda ma plan.