Reserve Bank of Zimbabwe exporting demonized carrier notes despite public denial by Mangudya – Nehanda Radio



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From Lance Guma

Eleven days ago, Governor of the Reserve Bank of Zimbabwe (RBZ) John Mangudya issued a statement stating that the bank was not involved in the distribution or trading of the Zimdollar bearer's notes used ten years ago in the hyperinflationary era of December 2008 .

The Governor of the Bank of Zimbabwe, John Mangudya, presents his Monetary Policy Statement, while Finance Minister and Economic Development Professor Mthuli Ncube and Permanent Secretary George Tongesayi Guvamatanga observe RBZ in Harare yesterday. - (Photo by Tawanda Mudimu)
Reserve Bank of Zimbabwe Governor John Mangudya presents his Monetary Policy Statement, while Finance Minister and Economic Development Professor Mthuli Ncube and Permanent Secretary George Tongesayi Guvamatanga observe RBZ in Harare. – (Photo by Tawanda Mudimu)

Mangudya, who replaced Dr. Gideon Gono, insisted that RBZ was not involved in the distribution or commercialization of these notes, which were to fetch good money ($ 390 each) at e-Bay, Amazon and are the dream of collectors, especially the 100 and 50. bearer bills of trillions of dollars.

See the example of the Zimbabwe hundred-trillion dollar note on sale at Amazon
See the example of the Zimbabwe hundred-trillion dollar note on sale at Amazon

"The bank is not aware of the origin of the notes being sold and can not guarantee the genuineness or otherwise of the notes cited. The bank also advises the public that any unmotivated dollar from Zimbabwe notes that the bank may have in stock is not for sale, "said Dr. Mangudya.

Nehanda Radio, however, has in its possession documents proving that the central bank under the surveillance and surveillance of Mangudya has exported these notes to the holder of Zimdollar and negotiated with them. This immediately raises the question of why Mangudya would deny something the bank is doing?

Officials of RBZ Mr. Azvinandaa Saburi and a Certificate of Origin and Certificate of Conformity signed by Mr. Manimanzi to export a consignment to Italy on October 6, 2018. The documents in our possession prove that Mangudya released this and other transactions of nature similar on August 27, 2018.

Mangudya, who took the place of Dr. Gideon Gono, insisted that RBZ was not involved in distributing or marketing these notes that have attracted good money on e-bay and are dream collector's possessions, especially the 100 and 50 trillion of dollars.

The letter was addressed to a Mr. Angelo Montanarl, who is in office in Italy. Radio Nehanda pressed Mangudya to clarify (1) what mandate that Mr. Montanarl had and of whom. (2) What was the value of the shipment you sent? (3) Have you received authorization from your finance minister or the president to export the currency?

Eight days after Nehanda Radio sent the questions to Mangudya via email, he still did not respond. We also asked the head of the central bank to (1) explain the normal procedure for dealing with demonetized currency in RBZ, (2) when RBZ demonetized the bearer's checks? (3) why would the demonetized currency still be in its vaults years after the demonetization?

When Mangudya was recruited to take over RBZ, he previously worked for CBZ Bank Limited. The documents held by Nehanda Radio show that CBZ was mentioned as the preferred bank to handle this transaction, including the custody of these demonetized bearer checks.

We asked Mangudya whether this service would be tendered to other banks to make offers if they so wished or if this was a closed agreement with the governor's previous bank. It appears that CBZ received preferential treatment to handle this lucrative transaction, creating a conflict of interest for the governor.

It is also unclear how much was raised by the sale of the Zimdollar carrier's notes, or whether the agreement was approved by the RBZ board and the vice governors?

Notes from the demonetized Zimdollar bearer exposed in Colombia

Although the governor still provides answers, the big question is why do we withdraw announcements to deny that the bank is involved in the distribution or negotiation of demonetized Zimdollar bearer notes?

A source who spoke to Radio Nehanda said: "The government is looking for money for all
means possible … and it looks like they are looking to make money from the misery tools that were used during the country's worst economic woes in 2008. "

"Can they tell the nation how much they expect to make from such covert operations? Will this money be counted accurately? Why Italy and Colombia of all places? Why not hold a public auction in Zimbabwe?

"The Minister of Finance, Mthuli Ncube, must look at this … another cartel? What does this say about Acie Lumumba's statements and the top-level exoneration of RBZ?

"We learned that there is an audit going on now at RBZ. I feel that they should include bearer checks in their audit scope and it will be interesting to get their findings. " Nehanda Radio

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