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(LUSAKATIMES) Court throws out Zamtel bid to nullify DEC’s move to freeze accounts

Court throws out Zamtel bid to nullify DEC’s move to freeze accounts
TIME PUBLISHED - Tuesday, January 24, 2012, 9:21 pm

The Lusaka high court has thrown out a bid for Zamtel to quash the move by the Drug Enforcement Commission-DEC to freeze its accounts saying the action was done in the course of criminal investigations.

In his ruling Lusaka high court judge Evans Hamaundu said he could not stay the execution of seizer notices as this will allow ZAMTEL temper with the accounts which are intended exhibits.

Judge Hamaundu says freezing of ZAMTEL accounts was done on suspicions that there was money laundering involved.

Zamtel requested the court to grant it judicial review which would automatically evoke a stay the execution of the DEC seizer notices.

Meanwhile, various stakeholders and members of the public have welcomed the takeover of the 75 percent stake owned by LAP Green of Libya in zamtel.

Transparency International Zambia says the takeover was predictable.

TIZ executive director Goodwell Lungu says civil society organisations and members of the public who opposed the transaction have been vindicated.

He has called on the PF government to exercise caution when managing the operations of the telecommunication company to avoid a repeat of transactions marred with illegality.

And former Finance minister Ng’andu Magande has also welcomed government’s decision to take over the parastatal.

Mr Magande however says it remains to be seen what move the managers of Lap Green will take next.

Meanwhile, UNIP president Tilyenji Kaunda says the reversal of the ZAMTEL transaction could not have come at a better time than now.

He said the takeover of ZAMTEL will send a message along the political corridor that people ought to make decisions in the interest of the public.

Mr Kaunda says it is clear from the government decision that no politician should think og oneself at the expense of public interest.

And former Bankers Union of Zambia president Lucky Beene says the takeover is in the best interest of the nation.

In another development, several Lusaka residents have praised president Sata’s government for taking over the management of ZAMTEL, saying it was long overdue.

Wilbroad Mulenga has observed that the measure will sustain economic development, while creating more jobs by empowering Zambians by owning shares in the company.

ZNBC

Labels: COURTS, EVANS HAMAUNDU, ZAMTEL

posted by MrK @ 2:18 AM