Former Finance Minister Ng’andu Magande has said that the bank of Zambia should explain the reports that the MMD printed fake money.
Mr. Magande said that the bank of Zambia should come and tell the nation what went wrong in the printing of the money.
In an interview, Mr. Magande stated that the printing of currency is the responsibility of the bank of Zambia.
He added that if the reports are not verified, it has the capacity to cause panic in the running of the government.
He said that the bank of Zambia should ensure that it explains to the Zambians on the allegations of printed fake money.
Commerce minister Bob Sichinga revealed on Thursday that the MMD government printed fake notes from China which they used to distribute in the villages during campaigns.
Mr Sichinga said that the money was printed in China and was dished out to rural areas to woo voters.
Mr Sichinga went on to say that part of the bogus K 3 trillion had initially been intercepted at NAKONDE Border Post in MUCHINGA Province by Vigilant members of the public.
Mr Sichinga made the disclosure in Kitwe when he addressed members of the business community at a consultative meeting.
Inspite of the massive illegal print of counterfeit money, the PF won the September 20 tripartite elections because the people of Zambia wanted change, Mr Sichinga concluded.
QFM
Propaganda should stop! Tell us what plans you have for Zambians …Zambians showed you what plans they had for you time to return the favor!
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Here comes another Ping-Pong of a story trying to divert important national issues.
Bob you are sinking like a Tintanic Ship. Money always stays in circulation and moves in and out of banks.
K3 Trillion was intercepted at Nakonde and no one can even produce 0.5% of those fake Kwacha notes money as physical evidence. What is this BS?
Is this of a case of Bob’s ministry being too large for him to handle and its needs to be split.
Chikwanda failed to verify the claims when the question was tabled before him about fake nodes.
Magande and Bob Sichinga are bent on deceptive talk directed at masses who may not comprehend features linked to bank notes. Magande & Sichinga are both economists well versed in money matters. Sichinga is conveniently NOT telling the gullible public that each bank note has a serial number. Sichinga should explain the discovery of a set of fake money linked to their serial numbers against a set of genuine bank notes with known serial numbers. In short let Sichinga, through Finance Minister, request the Bank of Zambia to diplay the fake bank notes and their serial numbers. The IMF and World Bank can deal with the alleged Chinese Company that is said to have printed the fake money. WE ARE TIRED OF PACK OF LIES AT THE EXPENCE FORGING DEVELOPMENT. This is an exhibition of failure by PF Govt
This is one of the ways in which precious time is lost on stupid things in Zambia. The only reason why the matter should be pursued is that the silly claim was made by a cabinet minister.
Let GOV / BOZ confirm or deny these allegations giving solid evidence either way This needs to be done as soon as possible. We know there are counterfeit notes within the country and have been for sometime. eg Kwacha and US$ but this was going on long before the elections.
Let them show us the fake money before we believe them. PF seems to be talking about corruption to divert attention from their failed promises for development. Look at Lusaka, what has been built bypast 3 presidents appart from Manda Hill, Arcades, Levy Business Park  & Makeni. KK was the only visionary president. He left a mark in infrastructure which is seen everywhere. I doubt that Sata and PF will do better than RB and MMD
Magande and Sichinga are economists bent on deceiving the masses who do not comprehend features on bank notes. Sichinga is conveniently NOT telling the gullible public that each bank note has a specific serial number. Bob must explain the discovery of a set of fake money against a set of genuine bank notes with known serial numbers. Let Sichinga, through, Finance Minister, request the Bank of Zambia to display the fake bank notes and their serial numbers. The IMF and World Bank can deal with the alleged Chinese Company that is said to have printed the fake money. WE ARE TIRED OF THESE PF’s PACK OF LIES AT THE EXPENCE FORGING REAL DEVELOPMENT IN ZAMBIA. The PF Govt is an exhibiting of failure.
Magande is feigning ignorance.
A case of feigning ignorance by Magande. Magande and Sichinga are economists bent on deceiving the masses who may not comprehend features on bank notes. Sichinga is conveniently NOT telling the gullible public that each bank note has a specific serial number. In this case let Sichinga, through, Finance Minister Chikwanda, request the Bank of Zambia to display the fake bank notes and their serial numbers. Certainly the IMF and World Bank can investigate and deal with the Chinese Company that is alleged to have printed the fake Kwacha notes. WE ARE TIRED OF THESE PF’s PACK OF LIES AT THE EXPENCE FORGING REAL DEVELOPMENT IN ZAMBIA. This is an exhibition of failure by PF Govt.
This crafty coward and traitor Magande is feigning ignorance. Magande and Sichinga are economists bent on deceiving the masses who may not comprehend features on bank notes. Sichinga is conveniently NOT telling the gullible public that each bank note has a specific serial number. In this case let Sichinga, through, Finance Minister Chikwanda, request the Bank of Zambia to display the fake bank notes and their serial numbers. Certainly the IMF and World Bank can investigate and deal with the Chinese Company that is alleged to have printed the fake Kwacha notes. WE ARE TIRED OF THESE PF’s PACK OF LIES AT THE EXPENCE FORGING REAL DEVELOPMENT IN ZAMBIA. This is an exhibition of failure by PF Govt.
The Crafty coward Magande is feigning ignorance. Magande and Sichinga are economists bent on deceiving the masses who may not comprehend features on bank notes. Sichinga is conveniently NOT telling the gullible public that each bank note has a specific serial number. In this case let Sichinga, through, Finance Minister Chikwanda, request the Bank of Zambia to display the fake bank notes and their serial numbers. Certainly the IMF and World Bank can investigate and deal with the Chinese Company that is alleged to have printed the fake Kwacha notes. WE ARE TIRED OF THESE PF’s PACK OF LIES AT THE EXPENCE FORGING REAL DEVELOPMENT IN ZAMBIA. This is an exhibition of failure by PF Govt.
As Bob displays hypocricy, the Crafty Magande is feigning ignorance. Magande and Sichinga are economists bent on deceiving the masses who may not comprehend features on bank notes. Sichinga is conveniently NOT telling the gullible public that each bank note has a specific serial number. In this case let Sichinga, through, Finance Minister Chikwanda, request the Bank of Zambia to display the fake bank notes and their serial numbers. Certainly the IMF and World Bank can investigate and deal with the Chinese Company that is alleged to have printed the fake Kwacha notes. WE ARE TIRED OF THESE PF’s PACK OF LIES AT THE EXPENCE FORGING REAL DEVELOPMENT IN ZAMBIA. This is an exhibition of failure by PF Govt.
If you don’t stay in Zambia, this is news to you. But for me who last went to Zambia in December last year, I am not surprised because it is well known by every Zambian back home that they is are fake 50,000 notes printed by a printing company in China. This has also been confirmed by commercial banks, no wonder the Kwacha depreciated. the money was offloaded on the market by these thieves in likes of Liato. What a country!!! shame!!!!
Even educated guys like sichinga are sickening. what rubbish, what dysenrty of the mouth.
#6, “….it is well known by every Zambian back home that they is are fake 50,000 notes printed by a printing company in China…”. Well Mr KweKwe, I have news for you. I live in Zambia and like every other sane Zambian who lives here, I will tell you that I have never heard such hog wash in my entire life. As for the depreciation of the Kwacha, the donchi kubeba love that theory because they think that they can hide their economic ineptitude behind it, much like using a leaf to hide one’s private parts..
Every person has a point I feel let’s try to give pf a chance if thy fail wil vote again let’s be also be more prayerfull as we choose our leaders
Mr. Magande, you are right, it is also worrying me. The number of statesments on the currency have not been helpful. If oney was indeed printed, announcements must come with what remedial measures government has put in place, otherwise he confidence in the currency and subsequently the economy is undermined!!!!
PF on a self destruct courseÂ
but why is ba Magande now wanting to divert our attention fron his cases with Zanaco Sale to Money printed and asking Bank of Zambia to expalin… lets finish with him first to explain why he and his administration undervalued the sale of Zanaco…that issue of printing money will be dealt with lets sort out the one HE is involved in…. yet he is shouting loud the issues for others….INTERESTING how people like to point out a speck in someone’s eye and leave the big LOG in their own eyes..
I suspect he signed for the illegal printing without reading the contract to print money8-|
for all i know bob sichinga had no job prior to elections, wallowing in proverty, so what is it he is telling us is to justfy his new positions and woodwink the semi-illiterates about his perceived hard work. shame, this country anyone can become minister and no questions asked
#8 Bo Ndate minyoi, What kwekwe has said is very true without any doubt unless you don`t pay attention to the marks on the money then it will take all your life without knowing what is fake and what is not. I was in Zambia my country for six months last year from June to December, the fake k50.000 were there and me personally I was shown that by a British man at Intercontinental Hotel in Lusaka. Fake Kwachas were printed early last year. Don`t think Sichinga is lieying acctually he is telling the trueth. If you really live in Zambia just ask some people witth enough money to search for the fake one they will show you, actually i have one 50.000 note here in Norway which is fake. I wish I was closer to you to show you the dfference because I have the genuine ond the fake one.
how far are we from meeting the MDGs
very very very far, maybe if they move the target year from 2015 to 2800; 7 centuries from now then we can meet only one one.:((
KANOWENE chikala fake money has always been here including the hard currencies like USD. hope you’re not taking care of old women there?
hahahahahaa Ba KANOWENE********We have always had fake notes made in Matelo for years. What wonders me is that if K 3 trillion of fake money was intercepted at NAKONDE, why didnt it make news like the few billions found at liato’s farm? For sure a trillion is more than a billion, right?
I wish Zambians living in Zambia could be taking up these causes and not waiting on former ministers to say something. It is good that Magande speaks out when something does not seem right, wish more people could say and do something.Â
Unfortunately Zambians are too docile. So many people believed Sata could deliver his 90 day promises. Now if you ask most people they just say they knew he couldn’t deliver. If you knew shouldn’t you still hold him accountable, let him tell you what his vision is for the next 4 years. If one could get used to poverty it seems Zambians are used to it.Â
A nation of f.o.o.ls  even educated people like Sichinga have become monkeys
This is just a ploy to print unncessary and expensive new notes to get kickbacks from contracts at the expense of national development.
Let For once Zambians demand to know how much it will cost to print new notes. All these justifications the Govt is coming up with to print these new de-based notes dont make sense to me. I dont want Chipimo in 2016 to start creating more commissions of inquiry on these deals and more time wasting like the PF is doing; No developmental plan at all.
these pf chaps arent to lead the nation..they should not cheat us about fake money which isnt there!
Sichinga u are failing to run ur ministry. u just wanted a job in pf gvt. atase who doesnt know u iwe sebele wa satana.
People remember very well during the Kaunda error. People were given only a week to depost their money into the banks and the currency was changed. If bob knows there is such big a mount of money in seculation why did they even warn people and gave a very long period to change the currency? then seriousness is not there.