Mangudya ready to blow lid on currency abuse

 Mangudya ready to blow lid on currency abuse

Reserve Bank Governor John Mangudya

By Steven Mungate


THE Reserve Bank of Zimbabwe (RBZ) has completed investigations into the new currency notes flooded the parallel market within hours of release.

There was a public outcry after pictures of the new notes in the hands of illegal foreign currency traders went viral on social media.

In a tweet by President Emmerson Mnangagwa spokesperson, George Charamba through his handle @Jamwanda said the probe in the illegal act was now done.

“Latest on laundered notes. Have just spoken to the RBZ Governor (John Mangudya) who has indicated the Central Bank investigations are now complete. The Central Bank will issue a statement before long, certainly before close of day. I thank alert Zimbabweans who exposed this racket,” Charamba said.

On Tuesday the Central Bank introduced the new bank notes to deal with the cash crisis that has forced many to buy money on a premium from street dealers.

The new notes have however found themselves on the street and being sold either in exchange for mobile money or for the hard currency.

“Street changers are small beer in the whole equation. We need to crack down on big guys,” said Charamba.

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