RBZ: Nostro accounts safe

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Nostro accounts safe: RBZ
The Reserve bank of Zimbabwe

Andile Tshuma, Chronicle Reporter

THE Reserve Bank of Zimbabwe (RBZ) yesterday dismissed social media reports claiming the Central Bank has issued notice of an impending invasion of nostro account balances.

In an interview, RBZ Deputy Governor, Dr Khuphukile Mlambo said that the central bank was not considering tampering with nostro accounts now or in the near future.

He said the reports were from criminal elements abusing the anonymity of social media, hell-bent on instilling panic, fear, alarm and despondency in the banking community in the country.

“The RBZ would like to notify Zimbabweans and the banking community in general that there is no such pronouncement or such plans to raid any nostro accounts by the central bank, or the Ministry of Finance and Economic Development. 

“Those that have crafted these fake media reports are making use of and quoting an old exchange control order from June 2019, and doing so out of context,” said the Deputy Governor.

Dr Mlambo urged Zimbabweans to rely on official channels of communications in the conventional media and on the central bank’s official communication platforms such as the website and its official social media pages. 

“We have already issued statements on our Twitter page to notify Zimbabweans of the scam,” he said. 

Scores of Zimbabweans active on micro blogging site Twitter took to the social media platform to question the central bank on the authenticity of the report, with some claiming that it was difficult to trust any news source due to the influx of fake news which can look convincing. 

“The Reserve Bank of Zimbabwe would like to dismiss the social media reports suggesting that nostro accounts will be raided by the RBZ and Ministry of Finance & Economic Development,” read the RBZ statement on Twitter. 

“This assertion should be dismissed with the contempt it deserves. There hasn’t been any change in the operation of nostro accounts,” read the statement. 

Social media reports that circulated over the weekend advised Zimbabweans to clear their nostro accounts as soon as possible claiming the central bank was planning to clear all of them and convert them into local currency at the interbank rate. 

Panic stricken business people and Zimbabweans in general took to social media platforms to vent frustrations, while some questioned the source of the news. 

Dr Mlambo assured Zimbabweans that they could continue using their nostro accounts as guided by the regulations and said any changes to prevailing regulations will be announced through official communication platforms.

He said Zimbabweans still had the privilege of collecting their diaspora remittances in hard currency from money transfer agencies. — @andile_tshuma Chronicle


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