Lungu appoints new Financial Intelligence Centre board

Filed under: Breaking News |
1,722 Views

President Edgar Lungu has appointed a new board of the Financial Intelligence Centre (FIC), replacing the one led by John Kasanga (pictured).

Finance Minister Bwalya Ng’andu has announced the development in Lusaka today.

The Financial Intelligence Centre has been a controversial organisation since it started producing its reports publicly.

The FIC’s role is to receive and analyse financial transaction reports bordering on suspected money laundering, terrorist financing and proliferation submitted to it by accountable institutions.

However, the argument has been whether the FIC trends reports should be made public or not.

The latest 2018 report states that 6.1 billion Kwacha was lost in suspected money laundering schemes while in 2017, it was estimated 4.5 billion kwacha was suspected to have been lost due to money laundering. Up to now, little has come out from the investigative wings.

The nation will be waiting to see whether the dissolution of the board of directors will result in the Director General Mary Chirwa losing her job.

Facebooktwitterredditpinterestlinkedinmail

One Response to Lungu appoints new Financial Intelligence Centre board

  1. We wait to see the new board how it will hadle the financial reports

    Julius sakala
    September 10, 2019 at 11:18 pm
    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Start: 2019-07-01 End: 2019-07-31