It was cash bonanza last year – FIC

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THERE were a lot of unusual cash transactions, which Financial Intelligence Centre (FIC) has termed “cash bonanza”, with one involving K70 million to facilitate the August 11 general election.
Acting FIC director general Liya Tembo said there was an unprecedented unusual increment of 20 percent in cash transactions last year as the country went to the general election.
“There was one transaction in which a property valued at K11 million, a part payment of K7 million cash was made,” Ms Tembo said at the launch of the 2021 trends report dubbed Cash Bonanza in Lusaka yesterday.
“People were keeping money at home. While there is no illegality in keeping money at home, the question is, why keeping money at home?”
Credit Zambia Daily Mail

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