PRESIDENT Hakainde Hichilema has asked the Bank of Zambia and Ministry of Finance to come up with mechanisms to further reduce cash transactions in order to avoid illicit financial flows being reported by the Financial Intelligence Centre.
And President Hichilema says all the money that was collected by cadres from bus stations and markets before the Councils resumed this role must be followed through and accounted for.
In a statement shared on his Facebook Page, Thursday, President Hichilema said reducing cash transactions would help with tracing where money was going, in view of the shortage of cash.
He insisted that his government would not tolerate corruption, money laundering and other illicit financial transactions.
“It is my considered view that with the shortage of cash being reported by the Bank of Zambia, they, working with the Minister of Finance, should come up with a mechanism to further reduce cash transactions. This will serve two purposes; firstly safety from being robbed of cash and secondly tracing where money is going to avoid illicit money flows that are being reported by the Financial Intelligence Centre (FIC). The New Dawn Government will not tolerate corruption, money laundering and other illicit financial transactions,” President Hichilema stated.
And in a separate statement, the Head of State said he was disturbed by reports that some people posing as cadres had continued to illegally collect fees in bus stations and markets.
President Hichilema, therefore, called on the police to arrest such individuals, stating that the officers do not need to be prompted as they have full powers.
“As I promised, the Councils have started collecting revenue from bus stations and markets. I am however disturbed by reports that there are still incidents of people who are posing as political cadres continuing to illegally collect fees. This is unacceptable. The police do not need to be prompted as they have full powers to arrest such individuals. You as traders must also ensure you report those individuals to law enforcement without fear of retaliation. This practice should be stopped completely, and all the money that was collected before the Councils resumed must be followed through and accounted for. Tell us where cadres are still collecting fees meant for the Council,” said President Hichilema.