The board of Malawi Energy Regulatory Authority (Mera) has now fired chief executive officer (CEO) Raphael Kamoto and director of finance Elias Hausi who were senton forced leave to pave way for investigations into the diversion of K3 billion from the Price Stabilisation Fund (PSF) State produce trader Agricultural Development and Marketing Corporation (Admarc).
Both Kamoto and Hausi have confirmed the development.
The investigations were carried after Minister of Finance, Economic Planning and Development Goodall Gondwe summoned board chairperson of Mera Bishop Joseph Bvumbwe to check progress on allegations of abuse of office at the institution.
Nyasa Times could not obtain comments from Bvumbwe who is reportedly outside the country and Mera board vice-chairperson Felisia Kilembe kept her comments close to the chest, saying only the chair is mandated to speak to the media.
But Hausi has said he will vehemently challenge the decision of the board.
“I will appeal against the board’s decision,” he said.
Mera was ordered to refund the K3 billion into the PSF as ordered by Secretary to the Treasury Ronald Mangani in his letter dated May 19 2016.
The energy regulator diverted K3 billion from the PSF to enable Admarc to buy maize.
Finance Minister Gondwe described the decision as illegal.