Social media platforms were set ablaze yesterday as Zimbabweans were thrown into a state of panic following a series of alarming revelations about NOSTRO accounts.
Zimbabweans found themselves on the edge as banks made a startling revelation, asserting that USD transfers from NOSTRO accounts may not hold the same equivalence as physical USD currency.
The notification from banks particularly alarmed citizens who heavily rely on NOSTRO payments, including civil servants and government contractors. The lack of a response from key government figures has only exacerbated the unease among the populace, leaving them with lingering doubts about the state of the nation’s financial well-being.
However, investigative journalist Hopewell Chin’ono claimed to have reached out to the Reserve Bank of Zimbabwe’s governor, John Mangudya, who provided some reassurance.
Chin’ono, known for his fearless reporting, took to Twitter to share his conversation with John Mangudya.
In his tweet, Chin’ono revealed that John Mangudya denied giving consent or knowledge for the statement issued by two banks, namely FBC and Banc ABC. Mangudya assured him that individuals with NOSTRO accounts should not succumb to panic, as liquidity in the market remains stable
“I have just spoken to the central bank governor, Dr John Mangudya, and he said this statement was issued by 2 banks without the consent or knowledge of the central bank.
He says that liquidity in the market is fine, and that people with Nostro accounts should not panic.
He said that the banking sector is seated on around 60% of forex liquidity in both forex cash and forex balances at corresponding banks.
The 2 banks that issued the statement, FBC and Banc ABC are expected to issue statements.”
Zimbabweans Express Skepticism as Hopewell Chin’ono Reveals Governor Mangudya’s Stance on Nostro Account Crisis
Hopewell Chin’ono’s tweet has sparked a flurry of activity on social media, with Zimbabweans expressing skepticism towards John Mangudya’s explanation. Many believe that his denial only serves to confirm their fears, viewing it as an attempt to quell rising concerns. Some netizens urged NOSTRO account holders to take precautionary measures, advising them to withdraw their funds as soon as possible.
Some social media users highlighted past instances where similar assurances had been given, only to witness unexpected shifts in currency regulations.
“I have just spoken to the central bank governor, Dr John Mangudya, and he said this statement was issued by 2 banks without the consent or knowledge of the central bank.
He says that liquidity in the market is fine, and that people with Nostro accounts should not panic.
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| :Zimbabweans React as Hopewell Chin’ono Discloses Reserve Bank Governor John Mangudya’s Response to Nostro Account Concerns |
The 2 banks that issued the statement, FBC and Banc ABC are expected to issue statements.”
Zimbabweans Express Skepticism as Hopewell Chin’ono Reveals Governor Mangudya’s Stance on Nostro Account Crisis
Hopewell Chin’ono’s tweet has sparked a flurry of activity on social media, with Zimbabweans expressing skepticism towards John Mangudya’s explanation. Many believe that his denial only serves to confirm their fears, viewing it as an attempt to quell rising concerns. Some netizens urged NOSTRO account holders to take precautionary measures, advising them to withdraw their funds as soon as possible.
Some social media users highlighted past instances where similar assurances had been given, only to witness unexpected shifts in currency regulations.
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