Fri, 26 May 2017 20:52:03 +0000 By BENNIE MUNDANDO IT IS an act of national betrayal that law enforcement agencies including police, DEC and ACC have failed to act on the diversion and transfer of K399, 472, 260 million retirees’ money from Zambia into an off-shore account by Saturnia. The Pensions and Insurance Authority (PIA) is believed to be complicit and party to the scams which it has failed to investigate. Zambia Republican Party (ZRP) president Wright Musoma said information that Saturnia opened an offshore account without the approval of the Ministry of Finance as provided for under SI 141 of 2011 and transferred K 399, 472, 260 in 2014 while a total of K 6, 219, 999 of investments were placed in 2015 was common knowledge. According to the Pensions and Insurance Authority (PIA) inspection report on Saturnia Regna Pension Fund, a company in which UPND leader Hakainde Hichilema has the largest shareholding, the […]
