It is common practice for regulatory bodies and government to warn the public and companies about malpractices or other unacceptable behaviour. However, when such a warning is issued regularly without any action, the warning loses its meaning and the institutions run the risk of not being taken seriously. The Reserve Bank of Malawi (RBM) and […]
Malawi Police at Kamuzu International Airport (KIA) in the afternoon hours of Monday arrested a Nigerian national for attempting to externalise 7 000 USD (about MK 5,000.000.), which was hidden in his hand luggage. The suspect, identified as Egemonye Christian Chinedu, holder of a Nigerian Passport number A05010761, was apprehended inside the Departures Lounge at […]
Malawi Police at Chileka International Airport in Blantyre have arrested a British National for attempting to externalize foreign currency without permit. Police Branch Public Relations Officer, Sergeant Sapulani Chitonde identified the British suspect as Arif Mustafa, 21 who was attempting to externalize US$10,000 (about K7.4 million) without permit. The Police publicist said Mustafa who is […]
Lilongwe Senior Resident Magistrate Court fined a 33-year-old woman MK 600 000 for being found in possession of foreign currency and attempt to externalize it. Kamuzu International Airport, (KIA) Public Relations Officer (PRO) Sapulain Chitonde identified the convict as Jessie Kumwembe Ndisale an employee of Ulendo Travel Group Company in Lilongwe. According to the PRO, […]
Malawi Police on Monday arrested a business woman at Kamuzu International Airport (KIA) in the capital Lilongwe for attempting to externalise $40 500 (about K31 million) which she had concealed in her knickers. According to police spokesperson at KIA, Sapulani Chitonde Lee, the 35-year-woman is Dalitso Chimbuli who hails from Kafanikhale Village, Traditional Authority (T/A) […]
Private practice lawyer Ishmael Wadi has told Lilongwe Magistrate Court that his client, an Indian who was arrested at Kamuzu International Airport in Lilongwe when he was found in possession of 15 bars of gold weighing 13.747 kilograms valued at K371.9 million wants to enter a plea of guilty. Moinuddian Mohamed Iqbar Sodagar who was […]
President Peter Mutharika has told the Reserve Bank of Malawi to ensure that the Exchange Contol Act is in place to avert the externalization of the forex which he said is harming the economy. Mutharika said this in Mzuzu when he opened the Reserve Bank of Malawi branch in Mzuzu. “We need to deal with […]
Malawi Police at Kamuzu International Airport (KIA) in Lilongwe on Thursday foiled an attempt by a Chinese national to illegally externalise foreign exchange worth K4.2 million to China. KIA Police spokesperson Sapulain Chitonde told Malawi News Agency (Mana) the suspect, Liqiong Chen, was scheduled to travel to China on flight number SA171 through South Africa […]
Kamuzu International Airport police have arrested a 35 year old man on allegations that he was externalising about K4 million. Airport police spokesperson Sapulani Chitonde alleged Lufeyo Chitukula was caught red handed with SA Rand 90200 which is about K4 million in his hand luggage as he was about to board a plane. “We asked […]
Pigeon Peas can be a breakthrough for Malawi to boost its foreign exchange earnings if the country explores global market opportunities, it has been noted. Out of the total production of Pigeon Peas in Africa, Malawi produces the largest quantity with over 200,000 metric tons per year followed by Kenya, Uganda and Tanzania. However, Malawi […]
The Midima Second Grade Magistrate Court in Blantyre has convicted and fined two men for being found in possession of counterfeit foreign currency contrary to Section 366 of the Penal Code. The court ordered Maurice Tuwanje and Christopher Banda-who were caught at different points in the commercial capital, Blantyre- to pay K50,000 fine each or […]
A Pakistani national who was convicted by Blantyre Magistrate Court for illegal possession of foreign currency amounting to $269 970 (about K154 million at the current exchange rate) has walked free from court after paying a fine of K950 000 to escape harsh Malawi prison sentence. Muhammad Jawad, 24, who faced charges of money laundering, […]
A 39-year-old Nigerian, Efeoma Emmanumara has been arrested at Kamuzu International Airport after being found in possession of US$26,150(approximately K15, 467,250.00) without supporting documents. Malawi Police arrested Emmanumara when he was about to leave the country through Ethiopian Airline. National police Publicist, Rhoda Manjolo told Nyasa Times that the money was discovered in Emmanumara’s bag […]
A 24-year-old Pakistan national, Muhammad Jawad, has been arrested at Chileka Airport in Blantyre after being found in possession of US$270,000 (approximately K143, 100,000) without supporting documents. Police arrested businessman Jawad owner of Pick and Shop in Limbe as he was trying to leave the country for Dubai. National police Public Relations Officer, Rhoda Manjolo […]
The Malawi Revenue Authority (MRA) has arrested Managing Director of Intertrade Agency and Mozimplex, a Mozambique based company, Mohamed Rafik Amad, for allegedly using false custom documents to externalize forex. Amad was arrested on Tuesday, June 16 2015 for presenting fake custom documents to banks for remittance of $720,000 and $768,000 to Hong Kong, according to MRA […]
The Malawi Revenue Authority (MRA) on Wednesday arrested Mr. Tushar Vinodrai Lakhani of Lakhani Trading Company for using a fake Customs document to externalize forex amounting to US$39,112.50 contrary to provisions of the Customs and Excise Act (Cap 42:01 of the Laws of Malawi). Lakhani is suspected to have forged a Customs seal, signature and initials used […]
Malawi government has said it has registered tremendous improvement in the official and private foreign reserves translating into greater import cover as never seen before in the country’s history. Government spokesman Kondwani Nankhumwa, who is also Minister of Information, he official foreign reserves are at USD646.26 million translating into an import cover of 3.38 months […]
Fiscal Police, a wing in Malawi Police Service says it has stepped up checks to impound and arrest illegal sellers of foreign exchange on the black market that often times take advantage and sell forex at exorbitant rates compared to regular banks. In an interview With Malawi News Agency (Mana) head of Fiscal Police Yacks […]