Reserve Bank of Malawi Denies George Chaponda’s Forex Claim

The Reserve Bank of Malawi has officially denied issuing a license for holding forex to embattled former Minister of Agriculture, Dr George Chaponda. Chaponda was arrested after ACB officers raided his house in Area 43 Lilongwe where they found foreign currency and millions of Kwacha which Chaponda has been at pains to explain the origin of the money.

Chaponda who was arrested in July is facing charges of corruptly performing public functions, misuse of public office, and possession of foreign currency, contrary to Section, 25A(1), 25B (1) of the Corrupt Practices Act, and Regulation 25A(1) of the Exchange Control Regulations.

Initially Chaponda claimed the money was from the DDP Blue Night fund raising event but his story was not corroborated by senior DPP officials and the the treasurer general.

Chaponda is also facing charges related to the misuse of public office in the now infamous Maize-gate scandal. He stands accused together with Rashid Tayub of Transglobe for the shady procurement of maize for ADMARC from Zambia.

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