US$120 MILLION EURO BOND WAS BEING DIVERTED TO OTHER ACCOUNTS
…..one of the banks it was sent to belonged to Rajan Mahtani, claims Prof Chirwa
Former Zambia Railways Limited Chief Executive Officer Professor Clive Chirwa has claimed that the US$120 million Euro bond was being diverted to other bank accounts before it could even be used.
Featuring on Showster’s podcast recently, Professor Chirwa revealed that one of the banks to which the money was sent belonged to Lusaka Businessman Rajan Mahtani.
He said he was not a signatory to ZRL accounts.
He claimed he was being victimized by senior officials who had some authority over him and that the then Republican President Michael Chilufya Sata could not act as he was ill.
“Yes we were given US$120 million that came from the Euro Bond and all that was mismanaged. What happened was before we could even use the money, it was being diverted to other areas by greedy people. These are the people who actually destroyed Zambia Railways Limited. They were taking the money from the bank sending it to all these other places,” he said.
“When I complained, they sucked me! These are the people between me and the President. President Sata was aware I was being victimized but he couldn’t act because he was ill. Finance Minister Chikwanda (Alexander) was telling me to send the money to other banks for other things.”
He disclosed that before they could even start implementing the project to revamp the railway system, his Director of Finance informed him that the funds were being diverted.
“I was not a signatory to any account at ZRL. Director of Finance, who was a signatory to the account, came to tell me that these people are trying to send the money to Mahtani (Rajan) bank from Zanaco where we had an account,” he stated.
PF for you. Thieves. Sishuwa,what’s your take?
Well Dr Mahtani is around.
Let him tell his story.
And the Accounts the money was being sent to, was it for Zambia Railways or what?
And how much of the $120millon Euro Bond did Zambia Railways use?
There are many questions Professor Clive Chirwa raises. May the Law enforcement officers take an interest.