Connect with us

Zimbabwe News

CBZ speaks on the $44 000 Withdrawal saga




CBZ speaks on the $44 000 Withdrawal saga. Following the damning revelations from the central bank last night, CBZ has insisted that its hands are clean and that the money was legitimately withdrawn.

Local financial institution CBZ seems to be in fire fighting mode after the Reserve Bank of Zimbabwe issued a damning statement alleging that the bank had allowed one customer to withdraw a massive $44 000. This amount is above and beyond the current weekly withdrawal limit of $300 for individuals.

According to the financial institution the money was drawn by a yet to be disclosed gambling house which then used the money to pay a punter who had struck it rich while betting. The bank further alleges that image which went viral on social media was that of the punter celebrating his good fortune with his payout. This comes after the RBZ threatened to take action against banks diverting money to the black market.

Another financial institution, Ecobank is also in hot water with the authorities for allowing a customer to withdraw $15 000 in the new $2 and $5 denominations. The alleged customer then splashed images of the brand new money which was still sealed on social media, courting the ire and attention of the monetary authorities. In a statement issued on social media site Twitter, CBZ said,



In response to social media publications circulating, we would like to advise members of the public that CBZ Bank Limited conducted internal investigations regarding the issue raised.

The results confirm that a withdrawal of $1 and $0.25 bond coins took place at one of our Branches. The withdrawal, by a corporate customer, in the gaming business, was an authorised transaction that fulfilled regulatory requirements.

The funds in the container were a display of a subsequent pay-out to a punter at the aforementioned corporate customers’ premises.


However, the statement does not seem to be having the desired effect as people on social media are dismissing it and accusing the bank of trying to hide its corrupt dealings. Others, on the other hand, are making fun of the bank’s statement saying it’s a poor attempt at public relations.

Source – iHarare

In other news – 5 things you probably didn’t know about Mambo Dhuterere

5 things you probably didn’t know about Mambo Dhuterere. He is the talk of the town, the man of the moment. He is everywhere, his music is being played as far as England by white people.Mambo Dhuterere

The guy is just having a blast of his life at the moment. Things are just flowing. We all want to be him at the moment. On my a trip to the capital recently the bus I used had some of his songs on…continue reading.