THE Reserve Bank of Zimbabwe (RBZ) says it is investigating allegations of corruption regarding the release of newly-minted bank notes after a picture of a person with a bulk of new notes went viral this morning.
The picture caused an uproar on social media, with Zimbabweans calling for the culprit to be investigated and for the central bank to explain how such bulk notes ended up in the hands of one individual yet the majority of the people withdraw limited amounts.
Zanu-PF national political commissar in the Youth League, Godfrey Tsenengamu, called for young people to protest against the RBZ and corrupt, “useless” Ministers.
“This is time to demonstrate at RBZ. It’s time to defend the interests of the dispensation. (It’s) time to physically remove money changers on the streets.
“It’s time to block useless Ministers from getting to offices. The young people are the vanguard and should defend revolutionary gains lest posterity will harshly judge us,” Tsenengamu said.
Another youth leader, Tendai Chirau, urged the central bank to speedily deal with the matter. Chirau, who is the Zanu-PF Youth League’s national secretary for administration, says it should only take “seconds” to find out where the notes emanated from.
“Finding the bank which sent the new notes to the black market should not take seconds. The people who are the confidence builders need answers,” Chirau said.
Meanwhile, Government has said the central bank has launched investigations into the release of bulk, newly minted notes into the streets.
“Government through the Reserve Bank of Zimbabwe is investigating allegations of abuse of newly released bank notes. Cash was collected by banks using their CIT (cash in transit) vehicles on Monday. All serial numbers were recorded in the register.
“The offending banks will be named and severe action taken,” said the Ministry of Information, Publicity and Broadcasting Services on social media this morning.
The new notes were released into the public from Tuesday via banks, with each client having a maximum withdrawal limit of only ZWL$300. The aim is to ease liquidity which had resulted in a multi-tier pricing system.