Ecobank Zimbabwe in trouble over black market activities

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Reserve Bank of Zimbabwe (RBZ) says Ecobank is responsible for releasing the wads of brand new notes circulating on social media.

RBZ Governor Dr John Mangudya has this afternoon indicated that Ecobank released $15 000 to one of its customers. Both Ecobank and the customer are now assisting police with investigations.

Said Dr Mangudya in a statement released to The Herald this afternoon; “The bank has conducted investigations on the matter, and the findings are that the bank notes in the circulating pictures emanated from Ecobank.

“Preliminary investigations by RBZ at Ecobank indicate that an amount of $15 000 was withdrawn by one of their customers.
“Ecobank, together with their customer, are now assisting the Zimbabwe Republic Police with further investigations.”

Dr Mangudya said appropriate disciplinary measures will be taken against the bank.