CBZ caught smuggling new notes and coins to black market. Popular Twitter personality @matigary has said the Bank has been caught smuggling notes and coins to the black market where eco cash agents are charging 50 per cent for every withdrawal.

Commercial Bank of Zimbabwe (CBZ Holdings) has been implicated in parallel market money laundering schemes, Mining Zimbabwe has learnt.

The handle which is believed to be owned by Taurai Chinyamakobvu has expressed its intolerance with the situation at hand and called for an explanation from the Bank and decisive measures to be taken against the Bank.

“It’s not enough to demand an explanation to these
@CBZHoldings
seals on the coins. Consequences on wrongdoing must be swift & decisive. Citizens must never be taken for granted, ever” reads the tweet. The central bank governor has been blamed for failing to put measures on how to stop the situation which was so obvious would happen considering the economic climate at hand.

“It would be silly to imagine RBZ did not anticipate that banknotes would not be on the street. This has happened over and over when new notes are introduced. OVER & OVER. The QN is why was it not anticipated & nipped in the bud. Controls nhai Mangudya?” Reads the tweet.

More to follow…

Source – Mining Zimbabwe