Nicked NBS Bank executive wanted to buy through Broll Malawi a K70 million mansion

Nicked NBS Bank Chief Finance Officer Mathius Silumbu recently approached a property management firm to help him buy a K70 million home, Nyasa Times  can exclusively reveal.

Fraudster shame

Silumbu was arrested on Tuesday following a Fiscal Police probe over his role in a fraud which was detected at his former place of work, FDB Bank, where he is alleged to have stolen K55 million.

Insiders at Fiscal Police confided in Nyasa Times that their investigations have revealed that recently Silumbu approached a property management firm, Broll Malawi to help him buy a K70 million.

“He told them he had this money in cash and there was no need to get a bank loan and told them to expedite the search of the K70 million pad in the suburbs of Blantyre,” said one of the investigators who did not want to be named.

Investigation have revealed that the figure has now risen to a whopping K120 million which Silumbu is alleged to have defrauded his former employer over a period of three years.

“He took details of his houseboy and opened an account which he was controlling and was depositing money into this account and he would transfer the money into his other accounts at different banks. This has been happening for the past three years,” said the source.

“When his junior colleagues noted that the boss was ‘stealing’ from the company, they also joined the fryy and looted their share,” added the source.

Insiders at FDH said four employees from the finance department have been suspended as a result of the development.

Fiscal Police in Blantyre have also arrested the banker’s house servant. Silumbu, a chartered accountant, is reported to have been transferring FDH Bank’s money from corporate account to his personal accounts through his servant’s bank account.

Malawi Police Service (MPS) head of Fiscal and Fraud Section, Isaac Norman, said they have charged Sulumbu with three counts of theft by servant, fraudulent false accounting and money laundering contrary to Section 42 of the Financial Crimes Act.

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Jim Khado

Rotten bankers of Malawi.. Rotten!

Tenzi Mzungu

All the owners of beautiful houses you see are thieves release him immediately

Area 10 Mansion

Bodza, I worked hard for my beautiful house


Nanunso mukunama. Ma allowance ndi ma business a chinyengo aja bwanji? Sikuba kokha kokhako?


Did you work hard here in Malawi for your money? Tiuzeni.

Phaghlani Vwavwa

Stupid. That’s sounds like you are justifying your own stealing habits. I and my family sacrificed everything for our house


Zovuta. Cashgate timaona ngati ndi ku Capital hill kokhatu.


Why not putting the picture of the thief in question? koma akakhalaa kafanikhale ndiye kuwajambula mbulanda!

God help me

Anyway this is not what Nkondola Uka taught you. But let us wait. We are giving you the benefit of doubt.

Nganiza Muthulika
All banks in Malawi practise this theft. NBS Bank is known for this. Many customers has loss money in Malawi banks. A bank official of Standard Bank transfered my money from my account to Un known account in front of my face. The person was surposed to transfer money to my relative ,s account. Since am not in the country the process was done by mail it gave her chance to do so. She thought I will not find out. With NBS BANK I have NO trust. Its a pity there are not Many foreign banks in Malawi. No one… Read more »

koma yaaa nde kut ndalamazo zimaoneka ngati ziliko ku account koma kulibe? afana ozisata…mpinganjila mutu zweee.




In Government this would be another Cashgate. What do you call it in private sector??????

Isaac Kazanga

Kudzigulira malo

Nganiza Muthulika
Same Cashgate. Its money laudering the same method of Cashgate. When someone sends money from abroad to their Malawian account they say the money has not come. What they dont know in Europe with advanced bank technology it shows When money has come. Its stupid of educated People yo behave so ignorant. This makes we blacks look like our education dos not matter or lies and all are thieves. Maybe there is NO serious controll in banks because it happens often. They employe People withiout references. Some are employed because they are friends NO qualifications. How could he be got… Read more »

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