• The money recovered in Lusaka’s New Kasama area was found packed in travelling bags and had to be transferred to the Bank for safe keeping.
• BoZ does not hold accounts for individuals.
• The public only have access to currency through various channels offered by financial service providers.

Bank of Zambia has dispelled media reports that bank officials were ordered to withdraw huge sums of money from the bank to distribute to third parties.

Bank Assistant Director Communications Besnat Mwanza told Money FM News in a statement that as reported by Zambia Police, the K65 million recovered in Lusaka’s New Kasama area was found packed in travelling bags and had to been taken to the Central Bank for safe keeping.

“This therefore necessitated the use of lockable and sealable trunks to safely transport the money from the point of seizure to the bank,” Ms. Mwanza said.

Ms. Mwanza stated that the Central bank does not hold accounts for individuals but interacts with the public in terms of the issuance of the currency through commercial banks.

“The public only have access to currency through various channels offered by financial service providers such as Automated Teller Machines, over-the-counter and their agents. Members of the public cannot access cash directly from the bank,” she added.

She further said false reports have potential to tarnish the image of the Central Bank, destabilize the financial sector and the economy at large.

Ms. Mwanza urged members of the public to desist from circulating false information as the matter under investigation on the seized money is being handled by the Zambia police, where all queries should be directed.

On 17th September 2021, Police in Lusaka recovered K65 million and USD57, 000 suspected to have been stolen or unlawfully obtained from a house in Lusaka’s new Kasama area.
And on 21st September 2021, the interrogated Faith Musonda, the person believed to be the owner of the money found in her house in New Kasama.