Mutharika defends sole signatory of DPP bank account: Analysts hail K145m payback
President Peter Mutharika has commented on his decision to be the sole signatory to a bank account of the ruling Democratic Progressive Party (DPP) which has been frozen following a court order, Mutharika said there was nothing unusual.
The bank account has been frozen following the K145 million deposited by Pioneer Investment Limited and Anti Corruption Bureau ( ACB) investigation report showed that PI Limited made an abortive interest claim of K466 million and deposited the controversial money into the DPP bank account at Standard Bank.
But in a pre-recorded program to be aired on State-controlled Malawi Broadcasting Corporation (MBC), Mutharika said: “Go to any organization, even private companies in Malawi, you will find that the head of the company is the sole signatory of the company bank account.”
However, some business captains differed with Mutharika, saying there is corporate governance which forces companies and organisations to have at least three bank account signatories to avoid theft of money and secrecy.
Others, however, argue that there must be a clear objective or set of objectives that the sole signatory model will serve the organisation either efficiently or effectively.
The DPP has since announced its intention to refund the ‘donation’.
DPP spokesperson Nicholas Dausi said the party felt it right to have the money returned because of what he called a “public misunderstanding”.
He said: “In the interest of transparency, the account was opened to save funds for purchasing the party’s regional headquarters. All payments from this account were made to purchase the party headquarters and meet other party expenses. No money went to the President personally or any other official of the party.”
Dausi, who is also Minister of Information and Communications Technology, said the DPP wants the ACB to proceed with its investigations into the transaction at Malawi Police Service (MPS) headquarters.
A political scientist from University of Malawi’s Chancellor College, Mustapha Hussein, observed that
DPP has scored a political point over those who were trying to create a mountain over the matter.
“By returning the donation, DPP has proven its integrity and sound moral standing as we move towards the elections. The development will no doubt boost the popularity of the party and improve its image,” said Hussein.
“The party has demonstrated maturity to rise above criticisms and return the money to the done. This is what leaders who champion integrity must do,” he added.
Renowned media practitioner Peter Jegwa Kumwenda also hailed the DPP’s payback action.
“In the history of this country, we have never had any political party that returning a donation. This development (DPP’s returning of the money) is therefore commendable.”
PI Limited deposited the funds in the DPP account immediately after getting a K2.7 billion payment for an MPS food rations contract.
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Kkkkk kkkkk. What political scientists are these? Bringing shame to the universities they belong.
Uyu ndiye talks a naye. Not only is he unable to take Malawi to greater from abject poverty but also is unable to explain machinjunjunju the K145m deposit in a convincing manner. Even a Standard 6 pupil is able to poke holes into his conflated story. Mutu siukukoka
za ziii kuba ndi kuba kodi avomele bwanji??????????????????????????????????????????
Much as it is appreciated that the money is to be returned to the supposed donor,what guarantee do you have that indeed it will be returned,these guys goofed up by depositing /transferring the cash instead of just delivering cash,am sure this time they will just get cash,the return money press conference is just a face saver.
Mr Dausi, dont lie to us that DPP decided to have only APM as signatory in the interest of transparency. On the contrary it promoted secrecy on financial dealings of the president. If the objective was transparency, how come the Secretary General of your party did not know of its existence, how come state house denied its existence when first queried about the account. DPP as a party only came in to save the president and that makes the party an accessory to theft. Some people are so naive to think the account belong to the party. In all honesty, it is the president’s personal account opened as a conduit for ill-gotten money. If DPP or the president is as transparent as Mr Dausi would want us believe, can you disclose all the deposits and withdrawals from this account since the time it was opened.
Once a thief always a thief, if we are to audit the source of the returned money,undoubtedly, we will discover that it is equally stollen money.DPP cannot be trusted any more.Asungunula za 3 million litres diesel ya ESCOM a pumbwawa!
I wonder whether all political parties are clean as they want us to believe. By the way is there any party that does not get donations from well wishers? Do we all know the source of those donations. Bwinotu bwino. osamalakhulitsa mugulu muno.
Ndiye balibe chimene walakwitsa professor Hussein. He is entitled to his opinion. Remember Freedom of speech. Inunso pelekani maganizo anu osati kutukwana apa.
Nkhani yakula apa ndiyoti anthu akuiopa DPP . So they are bent on distroying the party. Koma zithekaaa? ndiye funso.
Kodi ‘DONATION’ amapanga atangolandira ma kobiri a ucrook? Sanapatsane asanabe ndalama za mitsonkho ya a Malawi bwa?
Sono ma controlling officers onse akayamba kulandira ma kickback a chonchi dziko likhalapo? Munamvako scandal ya chonchi kupangidwa ndi president wolamura chibadwileni moyo wanu?
Koma umbava ochititsa manyazi ndithu.
SHAME!!!
Congratulations DPP for being morally upright others failed to show remorse for illegal water connection at their party headquarters in Lilongwe. Others up to now are failing to disclose the source of their funds for their obscenely expensive house project at maula despite being as poor as a church mouse before joining politics,
The photo used here like Mugabe…. kkk
We have educated fools and thugs lis this Saddam Hussein defending dpp. There’s no integrity in theft and it doesn’t matter whether or not the stolen property is returned. The best was to return the money immediately it was deposited. Who gave Zameer the account number. It was Alamu Pumbwa Mwakula himself. Don’t take us for a pumbwa ride APM and Saddam Hussein
hahaha who gave the account number nor how karim came to know the account number is not an issue. if your intention is to get donations you publicise how people can give you donations,likewise, if you want to give donations you get to know how you can make the donation
Is Hussein Political scientist indeed a DR, PROFESSOR, PHD holder? the guy lacks professional calibre, very shameful for PHD to think like a rat, no wonder this country is full of dunderheads
inu munapita school yake it. let the professor gave us his master piece analysis. ur allwed to have different opinion.
Corporate governance is not a law. There is no law against being a sole signatory. In some companies its allowed to have one person be a sole signatory for example the chairman. But if a CEO wants to sign checks there should be two signatures of him and maybe another officer. It all depends on set up and objectives. If am a sole shareholder in a company, I can sign cheques at will as long as its an instruction the bank has, but for my employees I may need two signatures to validate a payment. That being said the president can not lose this case in any court of law. Unless Karim or Bottoman can testify that the deal was an instruction from APM. And Karim shud testify that he got the deal thru APM and its APM who instructed him to deposit the money in that account. Assumptions are not facts.
Looking at most of these comments I have lived to believe that politics has poisoned a lot of people in Malawi where people put words in other peoples mouths.
This is just one of the so many shady deals with the executive. DPP officials have been in this for too long, unfortunately on their side they see nothing wrong in getting such a huge sum for no good reasons other that inflating prices which are to be footed by tax payers. You have been exposed is the fact.
The so-called university analyst is just rudderless man integrity begins with questioning about the source of the K145m,a thing APM never did. Mustafa Hussein is losing his academic poise by behaving like a pseudo analyst he has lost his core duty to guide the nation with wisdom. Where was this guy during the fight for academic freedom? This man is a total sellout he does analysis focusing on belly kickbacks sorry Hussein go home and do this type of silly commentary
ok then churches should start asking their members where they are getting money used to assist the church projects as well.
while I agree that its important parties to practice intergrity but sometimes in fund raising activities sometimes its difficult to ask for source of money. cashgate to finance community projects without the knowledge of the community
Hahaha mmwe che Useni unami awu political maturity and integrity and dipwipfwi Apumbwa will gain popularity coz they returned the loot kkkk ana amangwetu ayi niyapi ayi mbiya silingwa syakwiwa wele a Pumbwa wa lelo ndikwatilaga myala kuti lyolyolyo!! Mmalo mwakuti tukakanganiche ausye mbiya syamisongo syetu syakwiwasi lelo nikuwechetaga ayi wawo che professor Mustafa Useni na ajao wo yasiii yangali njete!!
Tikamati matchona ndiye zimenezi munthu signature yawekha basi akupose ndi abank mmudzi zoona Pitala ndiwedi kape eti
Mr. Chipwete is far much better than these useless political analysts. Can the DPP please return funds looted from Escom gensets, gensets fuel, macra etc…? If endeed they are to score a point
Very true. We have educated fools and thugs lis this Saddam Hussein defending dpp. There’s no integrity in theft and it doesn’t matter whether or not the stolen property is returned. The best was to return the money immediately it was deposited. Who gave Zameer the account number. It was Alamu Pumbwa Mwakula himself.
What about blue night refund amount from councils
can you define theft? can you differentiate theft and donation?
WHO IS BUYING THIS NONSENSE??????
He has just opened a bigger can of worms now, the fall of DPP is imminent ! The fact that other organizations do it does not give The Thief in Chief the right to steal from tax payers!
They were forced to return they did not do it willingly! CSO, Chilima, courts forced you to return what type of integrity is that? Dausi doesnt admit wrong nor did the prince of thieve come out on the matter but ducking private media!
A pumbwa! you will be surprised that the Malawi Savings Bank sold a pumbwa is got shares! l also say that it’s high time amchona to go back to Chicago! !!!!
The guy have no Love for Malawi as a country at all.
This is the time these the so called political analysts are going to make crooked money by supporting rubbish.
Did you really quote Dr Hussein that “DPP will score some points for returning the money”? Dr Hussein…..who on earth will appl fraudsters for returning proceeds of a fraudulent activity? W0uld you do that yourself?
The DPP is returning the money because of pressure from the CSOs not necessarily because the party has become civilized overnight amangwetu!!!!
This is cheap analysis by Hussein and Kumwenda and what they are saying is a political perspective , not a legal perspective. Others have already said it before that returning the money is an admission of guilty which could before the court of law be interpreted as admission of theft. The damage done may be irreparable. Remember the cashgate and how it impacted PP in the 2014 elections.
Nanunso a Hussain, DPP would have proved their integrity and moral standing if they returned the money without any external force and or influence. And the better institution they would have given the money to was to government, through account number 1.
On the other hand since Mhone reports to their government, what is their integrity and moral standing whispering to them about his actions on the same matter? Hussain nso nde ndi mbolaaaaaaaaaaaaaaaansoooooooooooooooooooootu, mukufuna chani, mpando kuti mumange nyumba nanunso? Mxiiiiiiiiiiiiiii
Integrity is somehow a difficult thing to understand and to achieve it in a situation like this needs real humility, disregard for people’s views ignoring pare pressure. Pare pressure is a situation where one is influenced by reaction or expectation of surrounding audience to do something bad, or failing to do the good thing. DPP has risen above pare pressure and achieved high level of integrity by giving back the money otherwise they would have chosen to act differently.
Mustapha Hussein, you are the silliest Political Analyst ever, do you want to tell us that when a thief pays back his loot, he is no longer a thief?
my understanding is that a thief who pays back to the rightful owner still gets convicted but with a lesser sentence considering that the stolen property was recovered.
the problem is you want Mustapha to think the way you do, you can only define one a as thief once proved so in a court of law. we fail to analyse issues perfectly because we side others and overtaken with politics. what hussein and kumwenda are saying is very true.
Lie after lie after lie. The worst dishonest president in Africa. Firstly you said Mr President that the case is a hoax and therefore fake news; then you say the account belongs to DPP and then you admit the Account exists and you’re the only signatory which, by implication, means that it’s your personal account Mr President. Unless you admit to the nation that DPP isn’t a political party but a family business in which you are the only signatory. In any case, how Was PI privy to the account details to deposit the “donation” and how was it accounted for in the books of the donor. Did he evade tax by declaring it as a gift or donation. How come DPP is now having to pay back the funds. Mr President, lies are catching up with you and it’s getting very embarrassing for a head of state.
Do we really have a sound president? shame on this leader who does not know corporate governance…mwati ndi a professor a law…..pumbwa
Scoring a point?
A thief scoring a point?
DPP haso done well in returning the money.
they have really done well for the sake of their party, they will improve the image of their party after it was badly tarnished by the M145 story. however, to those against DPP party are not happy with the move as it will make them to have few if at all none to de campaign their DPP counterparts
defending what? osavomera bwanji kuti ndinu mbamva bwanji?
Political scientists from chancellor college???? Can he seriously make such a silly statement?
Have you been given money Mr Potical Scientists? ??
You better keep quiet.
Whatever is happening in this country is beyond belief!! Where on earth has money obtained through corrupt means get refunded without the intervention of the justice system? The beneficiary and benefactor should face the full extent of the law and we can talk about refunds afterwards.
These thieves think Malawians are stupid and want to get away with theft of public funds by making excuses after being caught pants down. And some people think pledges of returning money demonstrates integrity on the part of DPP is nothing short of stupid thinking and just shows how debased Malawi has become. Where is common sense gone to these days?? What a sad country we live in!!
This is why our student are dull. Scoring a point in refunding the money, really? Whatever we may talk the source of the money matters most.
Mr President, You should have just remained silent.
Does anyone seriously believe that the questionable “donation” will be returned permanently to the original “donor”? I don’t. I believe that we will be shown evidence that it has indeed gone back, but what we will never see is the laundering being done as it returns to another DPP account.
This scored point of returning the MK145m to the donor will give APM’s electoral opponents some sleepless nights, hence these negative comments kkkkkk!
seems the president does not know any thing about corporate governance…….the problem is that he is surrounded by poor journalists and ex-myps that never went to school but good at grabbing people’s property ,kukumba mbewa mu ma myp bases and announcing cooked news at MBC.
Shere nosense, scoring a point after being caught stealing and being forced to pay back? Kodi anthu amaganiza bwino? Shame
Peter, having never worked in the corporate world, is being told lies and is buying them. This shows how inept he is and not fit to be a president. There is no way you can have a single signatory in the corporate world. The idea if for security and continuity. Issuing of business cheques should not stop because one person is not available and that is why you may have serveral ‘A’ and ‘B’ signatories, and sometimes ‘C’ signatories.
Single signatories are common in sole traders and not limited liability companies.
Do not give us this rubbish.
Regards
George
Yes we have sole signatories in private companies-You also show how least exposed you are by saying this does not happen.
Chris Kho
Busy defedning such rubbish from Peter, and u call urself acivilised working class? the guy has said such single signatory only works in solre traders like ur company, is that corporate? very dull thinking kho, very embrassed with us since i know u personally!!!
Can he give us an example? Why has it taken him this long to respond, who is giving you this advice to make yourself look like a ….. Munalandiladi ndalama zakuba eti?