Maravi

ACC to probe corruption allegations at CEEC - Sichinga

ACC to probe corruption allegations at CEEC - Sichinga
By Gift Chanda
Tue 07 Feb. 2012, 13:01 CAT

THE Anti Corruption Commission has been engaged to probe corruption allegations at the Citizens Economic Empowerment Commission, commerce minister Robert Sichinga revealed yesterday. And Sichinga says funding to the Citizen Economic Fund (CEF) will remain suspended until the forensic audit by the Auditor General's office is concluded.

Briefing journalists on recent developments in Lusaka yesterday, Sichinga said after a review of the management of CEEC and its funding process, it had come to his attention that some of the officers in the commission were engaging in dubious activities.

He said the officers were asking for bribes before loans could be approved and released.

"In this regard I have invited the Anti Corruption Commission to examine the authenticity of these cases of corruption and ensure that we identify the officers concerned," Sichinga told journalists.

"I am not making a blanket statement of corruption in the CEEC…some of the officers may have been engaged in corrupt activities and for us to determine this, we have engaged the Anti Corruption Commission."

He said there would be nothing left unturned at the commission, adding that those found wanting would be prosecuted.

Sichinga further condemned the way CEEC was run under the MMD regime.
He said the policy weakness resulted in decisions on who gets the loans being driven by political expedience rather than prudent financial management considerations.

"The politicians were dictating what needed to be funded, how much should be funded and how it should be funded rather than business consideration," Sichinga said, adding that this led to poor loan performance levels.
He said to salvage the commission, funding would remain suspended until all necessary actions aimed at improving the loan recovery rate and the forensic audit are concluded.

Last week, Secretary to the Treasury Fredson Yamba told the Parliamentary Public Accounts Committee chaired by Chipangali member of parliament Vincent Mwale that funding to CEEC had been suspended in a move aimed at reorganising the institution.

Yamba, however, said the government would continue to give the CEEC funds for its day-to-day operations.

Sichinga disclosed the forensic audit to see how the funds were being disbursed was already underway.

Labels: ACC, CEEC, ROBERT SICHINGA

posted by MrK @ 3:45 PM