Chuka snubs PAC on resignation

Reserve Bank of Malawi governor, Charles Chuka, has told the Parliamentary Accounts Committee (PAC) which called for his resignation a few days ago that he is not stepping down on his position as the head of the Central bank.

Chuka’s response came through the spokesperson of the bank, Mbane Ngwira, who said the call for Chuka’s resignation by parliament came about because of their lack of understanding of the operations of the bank and the role they are accused of having played in the Capitol Hill looting aka Cash-gate scam.

Ngwira said most of the transactions that were involved in the Capitol Hill looting were done using cheques and the RBM does not operate with cheques when dealing with government and that is where all the misconception was coming in.

PAC recommended that for smooth investigations to be conducted in the Cash-gate scam then the head of the Reserve Bank had to resign so as to pave way for impartiality.