Bank of Namibia and ACC collaborate to arrest two Chinese nationals

Home Business Bank of Namibia and ACC collaborate to arrest two Chinese nationals


A sting operation led by the Bank of Namibia and the Anti-Corruption Commission has resulted in the arrest of two Chinese nationals who allegedly attempted to bribe two senior central bank officials.
The two Chinese nationals offered the Bank of Namibia officials N$10 000 each to unblock N$1.7 million they were trying to send to China on the same day the funds were deposited at a local commercial bank during February this year.
“The Bank (of Namibia) became suspicious of the transaction and blocked the funds in terms of the exchange control regulations. In May 2016, the two Chinese nationals approached the Bank of Namibia offering to discuss the blocked funds. When they realised the Bank was not going to release the funds in line with exchange control regulations, the Chinese nationals offered to pay two senior officers of the Bank of Namibia N$10 000 each in exchange for their bank account to be unblocked and the N$1.7 million to be sent to China,” Bank of Namibia Governor, Ipumbu Shiimi, explained in a statement released yesterday.
However, the Anti Corruption Commission pounced on and arrested the two Chinese when they contacted the two senior Bank of Namibia officials to make the illegal payment. This operation led to the arrest of the two Chinese nationals as the transaction was covertly being monitored by members of the Anti-Corruption Commission who took the two accused into custody for contravention of section 34 of Act 8/2003. The bank account and the money remain blocked and is still subject to exchange control regulations.
“The Bank of Namibia strongly rejects any form of corruption and supports all efforts taken by government to stem out this evil from our society. The Bank would like to send a strong message to all those who are planning to engage in these types of acts that we do not condone such evils. The Bank would also like to urge all Namibians, individuals and corporations to strongly reject any form of corruption and to report such acts to the relevant authorities,” Shiimi warned.