A Reserve Bank of Zimbabwe (RBZ) executive, Mirirai Chiremba was yesterday removed from remand by a Harare magistrate. Mr. Mirirai Chiremba is facing criminal abuse of office charge yet he’s the director of Financial Intelligence Unit (FIU)– a branch of the RBZ that deals with all crimes related to money in Zimbabwe. He was one of those four RBZ officials who were suspended last year for corruption.
What has he done now
Chiremba allegedly raised the daily withdrawal limit of Suzan General Trading (Suzan), a company that deals in gold without doing due diligence. Last year Mr. Chiremba was released on $6000 bail when he appeared before Harare magistrate. He was ordered to submit title deeds of his place of residence as surety and report to police three times a week as well as not to interfere with witnesses. He was then remanded to January 10, 2019.
The State alleges on October 13, 2017, Suzan General Trading opened an NMB account at Borrowdale branch which was meant to facilitate payments by Fidelity Printers and Refiners for gold delivered by Suzan. At the time, the corporate withdrawal limit was $10 000 per day. On October 27, 2017, Suzan through one of its signatories, Shah Saumilkumar filed an application to NMB requesting for the withdrawal limit to be raised to $30 000. NMB carried out reviews of the application before transferring it to the RBZ financial unit for processing. Chiremba approved of the application on November 3.
On February 23, 2018, Suzan successfully applied for their daily limit to be increased to US$95 000 due to business expansion. Suzan tendered another application for the limit to be raised to US $195 000 on August 3 which Chiremba allegedly approved. Therefore the state is saying that he abused his official position and he failed to perform due diligence by approving Suzan’s applications.