RBZ Suspends 4 Officials After Acie Lumumba Acuses Them Of Forex Trading Scandal On Social Media

Farai Mudzingwa Avatar
RBZ Building entrance

It seems the naming and shaming is quickly becoming a go-to tactic whenever the government wants to do something. The Finance Minister Mthuli Ncube made an infamous appointment of ‘Acie Lumumba’ as part of his Communications Taskforce and it seems the wheels are turning.

Following Lumumba’s Twitter rant which was meant to ‘out’ some of the popular forex dealers, the RBZ seems to have been incited into action. The RBZ has now announced that it will be suspending four senior officials pending investigations:

Press Statement

Suspension of Senior Reserve Bank Of Zimbabwe Officials Pending Investigations

The Reserve Bank of Zimbabwe (the “Bank”) wishes to advise members of the public that following allegations of impropriety levelled against senior officials of the Bank, namely Messrs Mirirai Chiremba, Norman Mataruka, Gresham Muradzikwa and Azvinandawa Saburi, by Mr Lumumba, the Bank has found it necessary, for the sake of transparency and good corporate governance, that the allegations be followed through and investigated in line with the Bank’s Employment Code of Conduct.

Consequently, on 22 October, the Bank suspended the quartet from employment for an indefinite period to pave way for the investigations. Once the investigations have been concluded, the public shall be advised of the outcome and the appropriate corrective action to be taken as dictated by the outcome of the investigations.

John Panonetsa Mangudya


23 October

Ironically enough, just last week the Finance Minister did not believe the RBZ was involved in money changing but now his newly-appointed mouth-piece believes otherwise… I’m not entirely sure what to make of this as these are (as stated in the press release) allegations. If you’re a fan of these juicy and dramatic-type stories then following Acie Lumumba on Twitter might be a good idea as he promised to drop more bombshells tonight.

Also read, The President Will Soon Name And Shame Individuals And Companies Spreading Fake News


  1. Worried

    Smoke and mirrors while the economy burns… Why did the finance must not go direct to the rbz… Why is acie still not in jail as well… How was he hired without due process… How can you suspend on a tweet… So many questions

  2. Merrisa

    The problem in Zimbabwe is that it all depends who said it naming and shaming should start from the top Head of state .

  3. Shebah

    What due process do you need to employ someone into a commitee, this was not fill time employment

  4. Anonymous

    RBZ knows the cause of our misery, it has failed to be the financial controller by becoming a financial abuser, never trust banks with your hard earned monies. Zimbabwe is full of fraudsters, check if there is only one bank formed by a Zimbabwean is still operational, depositors have been shortchanged of their hard earned monies. The same DNA is in RBZ.

  5. Anonymous


  6. Anonymous


  7. Always off Topic

    How can anyone have any kind of confidence in this circus? What a joke.

  8. changa

    RBZ has a role to monitor banks and regulate local and foreign currency. The officials must be suspended for failing to perform that even if they are not involved in feeding the black market.

  9. Sagitarr

    If the RBZ has failed to supervise, monitor & control printing & distribution of bond notes etc why is Panonetsa still employed nhai Dambudzo?