Fraud rocks Ecobank Malawi - Malawi 24

Fraud rocks Ecobank Malawi –

Post was last updated: June 9, 2022

EcoBank Mzuzu Branch Manager, John Chizuza, was arrested yesterday for failing to account for K129 million at the bank.

Paul Tembo who is the Mzuzu Police Public Relations Officer said Chizuza was arrested after a complaint from auditors.

Chizuza is expected to answer charges of Theft by Servant, and Fraud other than false pretence charge.

The K129 million that is not accounted for has caused a lot of panic amount Malawians who are in business with the bank fearing that their money is included in the unaccounted for amount.

“How safe is our money,” said one customer on social media.

Some Malawians have urged one other to change their mindsets about fraud and corruption in the oountry as one commentator on Facebook says “Citizens must take note that he is not a politician, He has just swindled from our deposits. We need to change our mind set if we are to end fraud, corruption and stealing.”

Ecobank which also goes by the official name Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is a leading independent regional banking group in West Africa and Central Africa.

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