Metro

Bank of Zambia uncovers fraud scheme which duped victims of K17.9m

Published

1 year ago

November 1, 2023

The Bank of Zambia (BoZ) has uncovered a fraudulent scheme where victims were duped of over K17.9 million this year alone.

Governor of the Zambian Central Bank, Denny Kalyalya, who disclosed this at the 2023 World Savings Day commemoration held in Lusaka on Tuesday, said from the money, only 8.2 per cent of it was likely to be recovered as the operators of the scheme had “most likely already used the funds.”

Kalyalya went on to explain how unsuspecting members of public fell prey to the fraudulent investment schemes.

“In most cases, the fraudulent investment schemes promise higher and quicker returns than those available on legitimate investment or savings products. In many cases,” he said.

“These schemes do not have any underlying business activity that can generate income to distribute to investors.

“What normally happens is that the promoters or organisers use much of the money they collect on personal expenses and then some money is paid to a few investors to create the impression that the scheme is capable of giving investors an irresistible return on sums invested,” he said.

Kalyalya cautioned members of the public to be vigilant as they had much more power to stop these criminal enterprises altogether by simply stopping to deal with them.

“In recent years, the BoZ has observed a rise in the number of people that have fallen prey to money circulation scheme promoters and lost their hard-earned income thereby jeopardising their future.

“This development is troubling. Over the past five years, members of the public have lost a lot of money,” the BoZ boss said.

Related Topics:Featured Fraud. Bank of Zambia Zambia

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Metro

Zambian govt successfully repatriates trafficked toddler from Mozambique

Published

3 hours ago

November 23, 2024

Isaac Dachen

The Zambian government has announced the successful repatriation of a one-year-eight-month-old child who was trafficked to Mozambique.

Making the announcement at a media briefing held at the Ministry’s head office in Lusaka on Friday, the Permanent Secretary in the Ministry of Community Development and Social Services, Angela Kawandami, expressed relief and joy at the child’s return, following the abduction from Lundazi District in October 2023.

Kawandami revealed that the case was reported to Lundazi Police Station on October 28, 2023, and following intense investigation, the child was trailed to a house in a care facility in Tete, Mozambique, before being repatriated.

Kawandami emphasized government’s commitment to protecting children’s rights, citing the Children’s Code Act of 2022 and the Anti-Human Trafficking Act of 2008 as essential tools in combating child trafficking.

“These laws mandate the state and relevant actors to ensure the safety, security, and well-being of children, especially those at risk of trafficking,” she said.

She further highlighted the role of Zambia’s National Referral Mechanism in ensuring a coordinated, multi-sectoral response to trafficking cases.

“Through effective collaboration between the Ministries of Community Development and Social Services, Home Affairs and Internal Security, the Zambia Police Service’s Anti-Human Trafficking Department, and Interpol, the child was returned safely after a year of continuous efforts,” she narrated.

She urged the public to remain vigilance and report suspected trafficking cases, noting the increasing threat of human trafficking.

Also speaking at the press briefing, the Director for Anti-Human Trafficking in the Ministry of Home Affairs Boris Mulengu, praised the strong cooperation between Zambia and Mozambique, stressing the importance of intergovernmental collaboration in combating trafficking.

Meanwhile, the child’s mother expressed heartfelt gratitude for her child’s safe return, acknowledging the emotional toll the abduction had caused.

She thanked the government and all involved agencies for their unwavering dedication to reuniting her with her child.

Metro

Finland-based Nigerians in panic as authorities search for Simon Ekpa’s sponsors

Published

6 hours ago

November 23, 2024

Isaac Dachen

Some Nigerians based in Finland have been thrown into panic mode following the arrest and detention of the self-styled Prime Minister of the Biafra Republic Government in Exile (BRIGE), Simon Ekpa, who was arrested on Thursday by Finnish authorities on terror-related charges.

Ekpa was arrested alongside four other individuals by Finnish authorities on suspicion of terror-related activities, including incitement to violence and financing terrorism.

The dissident had made himself infamous by using the social media to promote violent activities in southeastern Nigeria, including attacks and murder of civilians and security personnel.

According to some Nigerians in European country, following the arrest of the separatist leader and the four individuals suspected to be sponsors of his group known as IPOB-AutoPilots, the police have begun a manhunt for other sponsors, thus creating panic in the Nigerian community and those who may have had dealings with the agitator.

Several sources who spoke to journalists, said Nigerians in the European country are afraid of commenting on the arrest of Ekpa over fear of being attacked.

A Nigerian community leader, who spoke on the condition of anonymity for fear of victimisation, said that the Igbo community in the was gravely affected by the violent acts of the secessionist group.

“Everyone is afraid to speak about Ekpa’s arrest. The key people in Finland and the Igbo community at large are not ready to lend their voices either,” he said.

He added that some persons were being accused of reporting Ekpa to the police and were being threatened.

“A particular person they accused now, they’re after him. This happened before he (Ekpa) was even remanded; what will happen when they imprison him? Everyone is afraid. These people are very deadly.”

Another Nigerian who spoke acknowledged that there was serious tension among Nigerians in the country.

“People don’t want to speak about Ekpa for fear of being hunted by his followers. We believe that they will hunt whoever comes out to talk about their leader. But the Finnish Government is trying to get rid of the situation.”