The Namibian police today said it made a mistake when it announced to the media that N$ 60 billion was stolen from the Credit Union of Namibia in December at an unknown date and time.
Nampol Inspector General Joseph Shikongo in a statement said that in actual fact, the Chief Executive Officer of CUN, Theron Louie opened a criminal case after 60 USD that he claims his company was supposed to have benefited as a grant was not received, prompting suspicion of fraud.
Shikongo confirmed that the 60 Billion never entered Namibia and CUN did not suffer any potential or actual loss.
“Therefore, the matter will be transmitted to the respective country where the investors’ funds were alleged to be released for the further consideration of the complaint of CUN by their law enforcement authorities,” Shikongo said.
The Bank of Namibia today also refuted that such monies were transferred or deposited by any entity or individuals associated with the Credit Union of Namibia, in the banking system in Namibia.
The Bank has concluded that there is no evidence to support the existence of such funds.
BON Director of Strategic Communications and International Relations Kazembire Zemburuka, confirmed that all cross-border transactions are reported to BoN by commercial banks that are authorised dealers in foreign exchange transactions. In addition, the Bank does not issue nor is aware of any trading of sovereign guarantees to foreign investors, as alleged in several social media posts, he stressed.
Furthermore, claims that the Bank’s staff members or its platforms are being exploited in fraudulent server-to-server transactions are not factual. “There are no relevant facts or evidence supporting this”, the statement read.
The statement further stated that the bank has noticed an increase in online scams, misinformation, and hoaxes that target and involve the public. The Bank is therefore encouraging the public to remain vigilant and to take the necessary steps to verify information on social media and other platforms, particularly if such information is not distributed by credible sources.
Meanwhile, Zemburuka reiterated that Namibia’s financial system remains strong and resilient and is considered one of the most advanced on the continent.
Additionally, Zemburuka maintained that the Bank can reassure the public that it maintains a constant state of vigilance to safeguard Namibia’s financial system against financial crimes, including fraud and money laundering, in order to promote financial integrity and stability, all of which are essential for realizing economic growth and development.