7/28/2019 Zambia Ex-president Banda Arrested Over Sale Of
Nigerian Oil-bloomberg News
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Former Zambian President Rupiah Banda was arrested and charged
with abuse of authority inconnection with the sale of Nigerian oil
when he was in office.
Banda, 76, was released on 500,000 kwacha ($93,000) bail after
surrendering his passport andwill appear in court tomorrow,
Namukolo Kasumpa, a spokeswoman for the Government
JointInvestigative Team, said today. Investigators will resume
questioning Banda on April 4.Enlarge image Zambia's former
President Rupiah Banda
Zambia's former President Rupiah Banda arrives at the Drug
Enforcement Commission inLusaka where he was summoned for
questioning. Photographer: Joseph Mwenda/AFP via GettyImages
He totally denies any wrongdoing, Sakwiba Sikota, Bandas lawyer,
said today by mobilephone. He will be vindicated by the court.
Justice Minister Wynter Kabimba read out a list of allegations
against Banda in Parliament onMarch 15, including abuse of
authority of office, fraud and misappropriation of public
funds,leading lawmakers in Africas largest copper producer to
remove his immunity. Banda became
president in 2008 after Levy Mwanawasa died, and he was elected
later that year.
Bandas government diverted money from the sale of Nigerian crude
oil into a separate bankaccount instead of the National Treasury,
Kabimba said in his statement to parliament.
The Lusaka-based High Court will hear an application on March 27
from Banda that seeks todeclare the lifting of his immunity illegal
and unconstitutional, Sikota said. Bandas lawyers willask the
Magistrates court tomorrow to delay hearing the criminal case until
the superior court hasruled, he said.Witch-Hunt
Its not that hes afraid of the criminal proceedings, but its out
of principle that it shouldnt goahead until a judge has ruled on
the civil case, Sikota said.
Zambias kwacha fell 0.7 percent, the most in almost a week, to
5.395 against the dollar by 6:06p.m. in Lusaka. Yields on Zambias
Eurobond were little changed at 5.4031 percent.
Banda also faces allegations of using government money to buy
campaign material, as well asusing offshore accounts to fund opaque
transactions that indicate money laundering, accordingto Kabimbas
statement. Government investigators have questioned Banda three
times sinceParliament removed his immunity.
Theyve rushed these charges which are completely bogus, Robert
Amsterdam, a lawyer for theformer head of state, said by
mobile-phone interview today from Washington. Its all
completelypolitical.
