Where is US$3.5bn? Musokotwane asked

By CLEOPATRA NANKONDE

FINANCE and National Planning Minister Situmbeko Musokotwane has been challenged to explain the US$3.5 billion had left Zambia through the illicit financial flows as has been exposed by the Financial Intelligence Centre.
Emmanuel Tembo, the Patriotic Front Feira Member of Parliament says Dr Musokotwane is owing Zambians an explanation of how the US$3.5 billion was shipped out of Zambia without trace when the country was reeling in economic woes.
In an interview, Mr Tembo said every transaction done in Zambia was being monitored by the Ministry of Finance and National Planning through the Bank of Zambia and it was therefore important for Dr Musokotwane to tell Zambians how such a huge amount of money could have been shipped out of the country, only to be discovered after it had been deposited into offshore accounts.
Mr Tembo, however said it was obvious that government officials in the UPND were involved in illicit transactions and that was why corruption and fraud investigations by the Anti-Corruption Commission and the Drug Enforcement Commission were not yielding any results.
He said any transactions of such magnitude were done through agreements, therefore, many government officials were involved in illicit financial flows and that was the reason those involved were not being arrested.
Mr Tembo added that the money which was being lost through illicit transactions was equivalent to the national budget and for the government to remain silent meant that many officials were the beneficiaries.
He said Zambians should now know that the UPND government cannot fight corruption because it is the major culprit.
Meanwhile, Mr Tembo said the PF lawmakers will not support the Lands and Deeds Registry Bill 13 of 2025.
Mr Tembo said the Bill is politically motivated and as such, the PF lawmakers cannot support it.
He said it is obvious that the UPND government will use the same law to fight their opponents by grabbing their property.