Central Banking

Zambian central bank governor appears before court

Zambian central bank governor Jacob Mwanza has been called to stand before the Lusaka High Court for contempt of court, the Post reported on Tuesday. The contempt proceedings arose after Mwanza allegedly ignored judge Gegory Phiri's order to pay businessman Jayesh Shah one million U.S. dollars, which was, according to the court, wrongly seized by the Drug Enforcement Commission (DEC) in 1998. On 12 October 1999, Judge Phiri ordered that First Merchant Bank, in liquidation, release the said mo

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