Tanzania's Ballali fired over central bank fraud

Jakaya Kikwete, Tanzania's president, has sacked Daudi Ballali, the governor of the Bank of Tanzania, after external auditors found massive fraud at the central bank.

Benno Ndulu, the deputy governor of the central bank, is to take over after an audit by Ernst & Young, one of the big-four global accountancy firms, revealed that the central bank had made more than TSh133 billion-worth ($116m) of improper payments to 22 companies in the country, many of which are said to be fictitious. The paym