BoZ urged to explain u-turn on cheque clearance

Forum for Democracy and Development (FDD) President Edith Nawakwi has demanded an explanation from Central bank Governor Dr. Micheal Gondwe as to why the bank has silently withdrawn the one day clearance of local cheques.

Ms .Nawakwi has told Qfm News that the central bank’s move to quietly withdraw the clearing of local cheques within 24hours is a clandestine way of operating stating that it implies the central bank has no regard for the citizens and stakeholders.

Ms. Nawakwi who is also an Economist notes that the move is tantamount to economic sabotage, stating that the introduction of the one day clearance of local cheques was progressing very well.

She explains that the central bank is taking back the country to a medieval way of operating without of operating.

The FDD leader stresses that it is unfortunate that a lot of people are now complaining of being charged more than three times for the same payment because of the old scanning equipment being used at the central bank.