By AARON CHIYANZOOVER US$51 million pension funds illegally invested outside the country should immediately be repatriated to Zambia, Citizens Democratic Party (CDP) president Robert Mwanza has demanded.It was on confidential records that a named company had externalised vast sums of money to invest in property and speculation against the laws of the country.Mr Mwanza said the massive illegal externalisation of money had impacted negatively on the economy when it was supposed to benefit Zambians.He said in an interview that offshore investments of pension funds were done illegally and do not benefit the owners of the funds.“Zambian pension funds have mostly been abused to escape detection. We are aware that pension funds have been used as a conduit through which millions of dollars have been externalised out of the country at the expense of local development and security of pension scheme members,” said Mr Mwanza.Mr Mwanza said Government should ensure that all the funds that had […]
Return stolen pension funds
