What about Tanzanians who are working abroad? Do they need authorizatin from Governor of BoT too? BoT verdict on accounts By The Citizen Reporter As allegations of grand corruption continue to rock the nation, with some prominent politicians and government officials suspected of having billions in foreign bank accounts, it has emerged that such transactions contravene BoT financial regulations. Central Bank officials yesterday confirmed to The Citizen that for any Tanzanian to hold an overseas bank accounts, he or she must be given that authorisation by the Governor of the Bank of Tanzania (BoT). Debate on whether or not Tanzanians can operate overseas bank accounts has been sparked by revelations in the UK's Guardian newspaper that Insfrastructure minister Andrew Chenge was found by British investigators to have $1 million (Sh1.2 billion) in an offshore account in Jersey. The embattled minister, who returned home on Wednesday, from Beijing, vowed to fight the mounting corruption allegations against him, and declared that he would not quit his position as investigations were still going on. Mr Chenge admitted that he was being investigated over allegations that he and some government officials had received bribes from a UK company, BAE System, to influence a Sh50 billion deal to sell a radar system to Tanzania. Asked by reporters whether he has billions in a foreign account, the Harvard University-trained lawyer, who served as the Attorney-General until 2005, when quit to join politics, said: �I, too, want to know the truth about these grave allegations�I hope that this investigation will reveal the truth. His bank records, he said, would prove that "there is no connection to the BAE's Tanzanian radar deal". According to The Guardian, Mr Chenge does not dispute the money in his Jersey accounts, but said, The obvious inference (of the investigation) is that I have received for my benefit �corrupt payments� from BAE. This is untrue. Yesterday, a source told The Citizen that in 1998, BoT issued a circular, stating clearly that no Tanzania is allowed to hold an overseas bank account while residing in Tanzania. The circular titled, Foreign Exchange Secular No 6000/DEM/EX.REG/58 of 1998 states: �It should be noted that operation of offshore accounts by residents is prohibited. The circular made available to The Citizen says that to operate an offshore account, one must seek permission from the BoT Governor. The Citizen established that for BoT to issue such special permission, the bank must satisfy itself that the applicant has "clean money, obtained through legal channels". The statement adds: It should be noted that portfolio investment, foreign lending operation in favour of non residents or acquisition of real estates, upward direct investments are subject to restrictions. Asked whether the circular was still in use, the BoT deputy governor responsible for Foreign Exchange and Foreign Banking, Mr Juma Reli, confirmed that the order was still in force. This circular is still valid and operational, Mr Reli told The Citizen by telephone. Besides holding offshore accounts, some top former and current government leaders are said to own posh homes abroad, especially in South Africa, Dubai, the United Kingdom, the US and Switzerland. Some of the huge scandals that have caused a public uproar lately, include construction of $400 million BoT Twin Towers, the Sh133 billion EPA account rip-off, the 28 million pound sterling radar purchase from UK�s BAE company, and $172.9 million emergency power supply contract awarded to Richmond Development Company. Early this month, Switzerland offered to help Tanzania recover any EPA money that may have been deposited in that country. Swiss Ambassador Adrian Schlaepfer was quoted by the media in Dar es Salaam recently as saying his country "was committed to working closely with Tanzania on the issue". So far, the special team investigating the EPA scandal is said to have recovered more than Sh60 billion, of the Sh133 billion, believed to have been swindled by 22 companies. According to Finance minister Mustapha Mkulo, the culprits in the BoT scandal have returned to the Government more than Sh60 billion. The target, Mr Mkullo said, was to recover by June at least 70 per cent of the illegal payments made in the 2005/06 financial year. Speaking on Wednesday at Julius Nyerere International Airport in Dar es Salaam on his return from Beijing, Mr Chenge promised to co-operate fully with local and UK sleuths investigating whether the $1 million found in his account was in any way linked to $12 million kickback paid to runaway businessman Sailesh Vithlani in the Sh70 radar deal. The Bariadi MP denied any wrongdoing, insisting that "I am clean, and as a citizen of this country I have the right to be heard".