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Cheating firms given more time to return cheated money in Tanzania |
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15:38, August 22, 2008 |
The government of Tanzania has given 13 firms more time to return their cheated money from the country's central bank until the end of October this year.
They are to face court actions if they fail to do so, after these firms' assets and bank accounts have already been seized and the passports of their owners held.
Tanzanian President Jakaya Kikwete on Thursday told the National Assembly that 53.7 billion (46.56 million U.S. dollars) of the 133 billion Tanzanian shillings (115 million dollars) siphoned away from the Bank of Tanzania through what was known as the external payment arrears account had been returned by the 13 firms that had confessed to the wrongdoing.
The president told the lawmakers during his State of the Nation speech that these firms were to return 10 billion shillings more to the central bank.
In all 22 firms were believed to have used forged documents to withdraw the external payment arrears on grounds that they had entered into agreements with external creditors.
A special committee appointed by the Tanzanian president is finalizing its report on the external payment arrears scam about the remaining nine firms.
"It is very difficult sometimes for us as a small nation when we request overseas banks to release information on people we are investigating to receive good cooperation," said the president in his speech, "I have therefore agreed to give the committee more time to work on these companies."
Source:Xinhua
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