• June 27, 2022 6:37 pm

Reserve Bank Governor, Wilson Banda summoned before Parliament Accountants Committee

May 3, 2022

By Malawi Exclusive

The Reserve Bank Governor, Dr Wilson Banda has been summoned to appear before the Public Accounts Committee (PAC) on Wednesday 4th
May 2022 at 2 pm on corrupt practices and abuse of office by the EDF Board Chairman Neil Nyirongo, Company Secretary Agnes Sentala and Tim De Borde, a member of the board of directors of Export Development Fund (EDF), subsidiary of the Reserve Bank of Malawi (RBM), according to the letter written by concerned members of staff to the Chairperson of PAC dated 21st March 2022.

According to the said letter, in September 2021, the three members of EDF Board hand-picked Mr Handsome M’bwana operating as Fletcher and Evance who is not licensed by the Regulator, Malawi Accountants Board (MAB) to provide auditing services at EDF without following a competitive bid process as required by the EDF procurement procedures.

EDF is a public institution and follows the provisions of the Public Procurement and Asset Disposal Act as well as Public Finance Management Act.

In a letter addressed to the Governor signed by J.L Wenyeheli on behalf of Clerk of Parliament the Governor is free to be escorted by EDF Board.

“I have the honour to inform you, Sir, that the Public Accounts Committee will meet
from 2 May to 4h June, 2022 to consider various issues under its nmandate. One of the issues which the Committee wishes to discuss upon is the management of EDE facility as well as the processes followed in appointing auditors to audit the said EDF facility. This is in line with allegations of maladministration and unprocedural engagenient of auditors to audit the EDF facility at your institution.In this regard, you are invited to appear before the Public Accounts Comnuittee on Wednesday, 4 May, 2022 at 14.00 hrs in order to brief the Committee on the management
of the EDF Account as well as the processes that were followed in the appointment of auditors to audit the EDF Account. You might wish to be escorted by the EDF Board when appearing before the Committee. In readiness for your appearance before the Committee, you are requested to submit to the Committee any relevant documentation on this matter by Friday, 29th April 2022”

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