Rédaction Africa Links 24 with Shania Lazarus
Published on 2024-03-13 18:32:20
The Bank of Namibia has completed an investigation into the alleged unauthorized banking activities of CBI Exchange Namibia and Coenraad Botha, with the case now moving to the court for further action.
Spokesperson for the Bank of Namibia, Kazembire Zemburuka, stated that the duo is suspected of conducting banking transactions, such as receiving deposits from the public, without the required license to do so. It was determined that CBI Exchange Namibia and Coenraad Botha were not authorized to carry out such banking operations.
Zemburuka explained that the bank’s evaluation revealed a violation of section 6 of the Banking Institutions Act, 1998, which is considered an offense. As a result, the bank has forwarded the matter to the Namibian Police for a more detailed investigation.
Coenraad Botha has been taken into custody and has already made an appearance in court in connection to the allegations.
Individuals who may have deposited funds as part of the illicit activities are urged to come forward and work with the Namibian Police during the investigation process. Zemburuka emphasized the importance of public support in successful prosecutions of cases like this, especially from those who have deposited money in connection with individuals or entities violating the Banking Institutions Act.
Depositors who have interacted with CBI Exchange Namibia and/or Coenraad Botha are encouraged to reach out to the Namibian Police to provide crucial information to assist with the ongoing investigation.
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