The ZIMBABWE Situation | Our
thoughts and prayers are with Zimbabwe - may peace, truth and justice prevail. |
Zimbabwe Arrests Executives Of Collapsed Bank
HARARE, Zimbabwe (AP)--Zimbabwe authorities arrested two senior executives of a collapsed Zimbabwean bank and seven others were being sought for questioning over fraud allegations, the central bank said Monday.
CFX Bank, a former foreign exchange dealership, was shut down by monetary authorities Dec. 18 after allegations of fraud and mismanagement triggered mass withdrawals from the bank's branches.
All transactions and accounts at the bank were frozen for six months by an independent regulator appointed to supervise investigations into the bank's affairs.
Thousands of depositors were left without cash over the holidays and hundreds of others faced losing their investments with the bank.
The central bank, known as the Reserve Bank, said in a statement Monday that investigators believed CFX executives produced false profit statements to conceal the theft of at least 115 billion Zimbabwe dollars ($20.5 million).
CFX Deputy Chief Executive Gary Shoko and Financial Director Onias Ndlovu were arrested on Sunday.
Others being sought for questioning include executives of the computer department after forensic auditors restored erased computer data.
"A cartel of bank management existed in the institution, using its influence to conceal financial irregularities ... and illegal and unethical deals," the central bank said.
It warned efforts will be stepped up to "smoke out errant bankers" in the country's troubled financial sector.
Six other private banks have been shut down in 2004 and put under the control of independent accounting experts.
Dow Jones Newswires 12-27-040750ETCopyright (C) 2004 Dow Jones & Company, Inc. All Rights Reserved.
Evicted Zimbabwean farmers arrive Kwara ...To begin commercial farming, 2005 |
Tuesday, December 28, 2004
A GROUP of white Zimbabwean farmers forced from their lands by the president,
Robert Mugabe, have arrived in Nigeria to establish new farms. The Zimbabweans’
move to Nigeria follows a vigorous courtship by President Olusegun Obasanjo and
the governor of Kwara State, Bukola Saraki, who wants the men hounded by Mr.
Mugabe to kick-start commercial agriculture in Nigeria. Mr. Saraki said he wants another 200 Zimbabwean farmers to follow the
pioneers because Nigeria, despite its abundant land, is spending more than £1.6
billion each year on importing 98 per cent of its basic food needs, which could
be produced domestically. Hundreds of white farmers have left Zimbabwe in the wake of Mr. Mugabe’s land
confiscation strategy, leaving farms idle and creating huge food shortages in a
country once known as the breadbasket of Africa. Many have moved successfully to neighbouring Zambia and Mozambique, but the
15 who arrived in Nigeria are the first to take their skills 2,000 miles across
the continent to a country whose economy is based on revenues from its oil
reserves. The farmers, led by Alan Jack, whose Zimbabwean tobacco and maize farm was
forcefully occupied four years ago by so-called war veterans loyal to Mr.
Mugabe, have each been allocated 1,000 hectares of Nigerian bush. They have also
been given a derelict sugar refinery and estate which once supported a community
of 20,000 people to rehabilitate. “Why leave Africa and go to Australia?” Mr. Obasanjo asked. “We do not want
to take away what is good for Zimbabwe from Zimbabwe, but I believe that it is
in the best interests of Africa that you do not leave this continent. The more
of you who come (to Nigeria) the better.” Kwara itself has no oil reserves, which inspired Mr. Saraki to spearhead a
national drive to wean Nigeria off oil-based revenues - totaling more than £200
billion over the past 40 years - and make it self- sufficient in food. Mr. Jack’s team will this week mark out their new farms, which have already
been mapped by satellite images. They will begin farming in the New Year, using
Niger river water to irrigate maize, rice, sugar, cotton, soya, citrus, cowpeas
and fodder crops for Nigeria’s first modern dairy industry. Mr. Jack insisted the land they farm be virgin bush, not soil already
cultivated by local people. “We know what it feels like to be kicked off farms,”
he said. “If the same was to have happened to the local Nigerians the project
would fail because we would get a bad name locally and internationally.” He said he was excited to be a pioneer commercial farmer in Nigeria. “We
reckon that with our know-how, we can triple or quadruple yields of crops like
maize and soya. Asked about Nigeria’’s reputation for violence and corruption, he said:
“There are risks in all businesses. But the governor and the president are right
behind us. They’re very switched-on.” |
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A mother stabbed to death on Christmas Day has been named by police as 37-year-old college student Noebhle Ndlovu. Detectives fear the attack could have been witnessed by her three children
West Yorkshire Police said the victim, born in Zimbabwe, and a student at Bradford College, had died from stab wounds.
Detectives fear the attack could have been witnessed by her three children.
Police and paramedics were called to an address in Scholemoor Avenue, Bradford, West Yorkshire, shortly after 8am on Christmas Day.
The woman's three children, two teenage boys and a 12-year-old girl, were in the house at the time of the knife attack and detectives suspect all three witnessed the killing.
The 12-year-old girl suffered a slight injury and was taken to hospital for treatment.
A 25-year-old man, believed to be the victim's partner, was arrested at the scene and was taken to Bradford Royal Infirmary with stab wounds.
West Yorkshire Police tonight said his condition had improved but it could be days before he was fit to be interviewed.
A spokesman said: "The suspect is still detained in hospital where his condition is no longer critical but now stable.
"It may be some days before police can interview him and he is presently being guarded by police officers."
Shortly after the incident West Yorkshire Police said a motive for the attack remained unclear but they were treating the death as a "domestic" incident.