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Revealed: Tanzanian Thieves have Sh315bn in Swiss Banks!
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BAK
JF-Expert Member
- Feb 11, 2007
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New hint on TZ who's who in Sh303bn Swiss accounts
By Mkinga Mkinga | The Citizen Reporter | Monday, 25 June 2012
Dar es Salaam.
The International Police Organisation (Interpol) in Dar es Salaam has said some local political bigwigs are behind the stashing of colossal amounts of money in Swiss banks, The Citizen can reveal today.
Interpol sources told this newspaper in an exclusive interview over the weekend that politicians and scores of other individuals have fat accounts in Swiss banks, but the money wasn't deposited by account holders themselves.
The cash, our sources said, was deposited into the Tanzanians' accounts by certain oil exploration and mining firms operating in the country.
On Saturday, this paper reported that some Tanzania's big shots have stashed away Sh303.7 billion in Swiss banks, according to a report by Swiss National Bank (SNB).
This amount was more than double the Sh133billion swindled through the External Payment Arrears (EPA) from the Bank of Tanzania in 2005/06. A handful of businessmen and erstwhile BoT employees have appeared in court in connection with this scandal.
Also, this amount of money can run the budget of the ministry of Livestock and Fisheries for five years, going by the current exchange rate of Sh1,660 to the Swiss franc.
The ministry of Foreign Affairs and International Cooperation would run its affairs for two years.
The sources said initial inquiries from Swiss authorities have established that about Sh303.7 billion are in six different accounts owned by individual Tanzanians, including influential politicians.
However, the Interpol sources said information coming from Switzerland indicated that since the accounts were opened the legal owners have not deposited a single coin.
"Our enquiries have established that the moneys are in about six different accounts owned by influential Tanzanian politicians …our counterparts in Switzerland have established that the money has been deposited by several companies which have interests in oil searching and mining in the country," the sources said.
Asked to shed more light over the information, the source said their counterparts could not divulge the names of account holders for now, since it would be against the rules and regulations guiding the financial sector in Switzerland.
The source said under the Switzerland principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities, except when requested by a Swiss judge's summons.
The report has created anxiety, with some top politicians calling The Citizen newsroom enquiring for more details like names of those thought to have stashed away the money.
"Sorry for calling you at this midnight hour….actually, I would like to congratulate you people for the very good article today (Saturday) ...but please look if you have access to the report and kindly make it available to me," requested one senior politician (name withheld).
On Saturday the Prevention and Combating of Corruption Bureau (PCCB) said it was getting in touch with Swiss authorities to help trace the money and those who own it.
PCCB director-general Edward Hoseah said his office has the information and it was following up with Swiss authorities.
Dr Hoseah said he would be seeking to establish how the money was deposited in the Swiss banks, the people involved and the nature of those transactions.
Responding by phone from Arusha, he said he was putting in place strategies on how to get more information on the report.
Other countries whose nationals have stashed away wealth in Switzerland (in Swiss francs) include Kenya (818 million), Uganda (154 million), Egypt and South Africa (1.914 billion each), the Seychelles (2.515 million), Zimbabwe (96 million), Senegal (150 million), Rwanda (29 million), Sierra Leone (29 million), Somalia (1 million) and Sudan (796 million).
The amounts, described by SNB as "liabilities of Swiss banks towards clients from different countries" do not necessarily project the much-talked-about black money held by Tanzanians in the safe havens of Switzerland.
The total overseas funds in Switzerland's banking system stood at 1.53 trillion Swiss francs, the report adds.
At the same time, global pressure on Switzerland has been mounting, with demands that the country orders its banks to share information about clients with foreign governments.
Tanzania's anti-corruption boss said Tanzania would need to establish from Switzerland who owns the money and if it happens it were money that has been illegally earned, he would consult the BoT on the immediate steps to take.
"After we have established where the money originated, we will follow due procedure and make sure it is returned home," Dr Hoseah said, adding: "We shall use the relevant international law to sort this thing out."
Recently, the Bank of Tanzania received over Sh72 billion as compensation for a dubitable military radar transaction under a settlement agreement between the government of Tanzania and British Aerospace Defence System Limited.
Over expenditure in the construction of the BoT twin towers is among scandals that have cost Tanzania billions in taxpayers' money.
By Mkinga Mkinga | The Citizen Reporter | Monday, 25 June 2012
Dar es Salaam.
The International Police Organisation (Interpol) in Dar es Salaam has said some local political bigwigs are behind the stashing of colossal amounts of money in Swiss banks, The Citizen can reveal today.
Interpol sources told this newspaper in an exclusive interview over the weekend that politicians and scores of other individuals have fat accounts in Swiss banks, but the money wasn't deposited by account holders themselves.
The cash, our sources said, was deposited into the Tanzanians' accounts by certain oil exploration and mining firms operating in the country.
On Saturday, this paper reported that some Tanzania's big shots have stashed away Sh303.7 billion in Swiss banks, according to a report by Swiss National Bank (SNB).
This amount was more than double the Sh133billion swindled through the External Payment Arrears (EPA) from the Bank of Tanzania in 2005/06. A handful of businessmen and erstwhile BoT employees have appeared in court in connection with this scandal.
Also, this amount of money can run the budget of the ministry of Livestock and Fisheries for five years, going by the current exchange rate of Sh1,660 to the Swiss franc.
The ministry of Foreign Affairs and International Cooperation would run its affairs for two years.
The sources said initial inquiries from Swiss authorities have established that about Sh303.7 billion are in six different accounts owned by individual Tanzanians, including influential politicians.
However, the Interpol sources said information coming from Switzerland indicated that since the accounts were opened the legal owners have not deposited a single coin.
"Our enquiries have established that the moneys are in about six different accounts owned by influential Tanzanian politicians …our counterparts in Switzerland have established that the money has been deposited by several companies which have interests in oil searching and mining in the country," the sources said.
Asked to shed more light over the information, the source said their counterparts could not divulge the names of account holders for now, since it would be against the rules and regulations guiding the financial sector in Switzerland.
The source said under the Switzerland principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities, except when requested by a Swiss judge's summons.
The report has created anxiety, with some top politicians calling The Citizen newsroom enquiring for more details like names of those thought to have stashed away the money.
"Sorry for calling you at this midnight hour….actually, I would like to congratulate you people for the very good article today (Saturday) ...but please look if you have access to the report and kindly make it available to me," requested one senior politician (name withheld).
On Saturday the Prevention and Combating of Corruption Bureau (PCCB) said it was getting in touch with Swiss authorities to help trace the money and those who own it.
PCCB director-general Edward Hoseah said his office has the information and it was following up with Swiss authorities.
Dr Hoseah said he would be seeking to establish how the money was deposited in the Swiss banks, the people involved and the nature of those transactions.
Responding by phone from Arusha, he said he was putting in place strategies on how to get more information on the report.
Other countries whose nationals have stashed away wealth in Switzerland (in Swiss francs) include Kenya (818 million), Uganda (154 million), Egypt and South Africa (1.914 billion each), the Seychelles (2.515 million), Zimbabwe (96 million), Senegal (150 million), Rwanda (29 million), Sierra Leone (29 million), Somalia (1 million) and Sudan (796 million).
The amounts, described by SNB as "liabilities of Swiss banks towards clients from different countries" do not necessarily project the much-talked-about black money held by Tanzanians in the safe havens of Switzerland.
The total overseas funds in Switzerland's banking system stood at 1.53 trillion Swiss francs, the report adds.
At the same time, global pressure on Switzerland has been mounting, with demands that the country orders its banks to share information about clients with foreign governments.
Tanzania's anti-corruption boss said Tanzania would need to establish from Switzerland who owns the money and if it happens it were money that has been illegally earned, he would consult the BoT on the immediate steps to take.
"After we have established where the money originated, we will follow due procedure and make sure it is returned home," Dr Hoseah said, adding: "We shall use the relevant international law to sort this thing out."
Recently, the Bank of Tanzania received over Sh72 billion as compensation for a dubitable military radar transaction under a settlement agreement between the government of Tanzania and British Aerospace Defence System Limited.
Over expenditure in the construction of the BoT twin towers is among scandals that have cost Tanzania billions in taxpayers' money.
It's so disheartening that our politicians vested with power to make major decisions on behalf of Tanzanians are the ones among others on the forefront in looting our dearest country's resources out of their greediness and selfishness worse of it all proceeds from dubious contracts.
I suppose ten percent cuts,are stashed in foreign bank accounts whilst the same could have been invested within creating employment and income as well,now i clearly understand why hon. Mnyika made that statement in regards to our beloved president and the government as well.
Every now and then we are at DPs door step knocking for funds while we have citizens with billions stashed in DP countries bank accounts what a shame.
What would a person benefit if he/she dies with billions in offshore bank accounts?
I suppose ten percent cuts,are stashed in foreign bank accounts whilst the same could have been invested within creating employment and income as well,now i clearly understand why hon. Mnyika made that statement in regards to our beloved president and the government as well.
Every now and then we are at DPs door step knocking for funds while we have citizens with billions stashed in DP countries bank accounts what a shame.
What would a person benefit if he/she dies with billions in offshore bank accounts?
Narubongo
JF-Expert Member
- Nov 3, 2010
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"Sorry for calling you at this midnight hour
.actually, I would like to congratulate you people for the very good article today (Saturday) ...but please look if you have access to the report and kindly make it available to me," requested one senior politician (name withheld).
you made my day.. politicians are source of poverty in Tanzania but i know nothing will happen, it's just a political accident! shame on you (name withheld).. why cant we adopt Vatican system? we dont need politicians in tz ... oh we have strongest mkuu.. heeheeehee
you made my day.. politicians are source of poverty in Tanzania but i know nothing will happen, it's just a political accident! shame on you (name withheld).. why cant we adopt Vatican system? we dont need politicians in tz ... oh we have strongest mkuu.. heeheeehee
OSOKONI
JF-Expert Member
- Oct 20, 2011
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my dear Tanzania Iam crying for you and your people! Mwalimu where are you? Why did you go so soon? Why are you so silent??please say something we Are finished! such amount of money owned by individuals and we are quarreling over slim devolopment budget? Tanzanians we must do something not later but now!!
marejesho
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- Jan 6, 2011
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Wala hawatajiua,watakufa kwa pressure !!!
OSOKONI
JF-Expert Member
- Oct 20, 2011
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mafuta yakipatikana nchi itaingia kwenye vita ya wenyewe kwa wenyewe
Narubongo
JF-Expert Member
- Nov 3, 2010
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soma vizuri hapo juu watu tayari wameshapiga dili kwenye mafuta na gas
Na yanafunuliwa kipindi muafaka. Bila shaka hoja ya Zitto kuiondoa serikali hii inazidi kupata mmashiko.
simplemind
JF-Expert Member
- Apr 10, 2009
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Since the money was deposited by oil exploration and mining companies suspect namba moja/wizara nishati na madini.
Elizabeth Dominic
Platinum Member
- Dec 7, 2007
- 4,555
- 3,649
For how long is this gonna go on? It doesn't even surprise people anymore. They know that we know and they don't care really..............Hosea and your mediocrity we are not buying your lame stories. Aaaaaaaaaaargh! I'm so mad right now
Chakaza
JF-Expert Member
- Mar 10, 2007
- 39,793
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Sasa nimepata jibu kwanini yule mama wa supermarket alipompa pole Ngeleja kwa kukosa Uwaziri yeye alimjibu kwa kejeli kuwa mie sitakufa njaa
zomba
JF-Expert Member
- Nov 27, 2007
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What if he is among the "influential politicians"? Remember last post of his beloved Minister of Finance Amir Jamal?
Mtumishi Wetu
JF-Expert Member
- Oct 12, 2010
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Ahsante mkuu kwa taarifa, tukisema hawa watu wa system hii ni wezi kina Ritz, Mamaporojo na wengine wailobadili ID zao humu JF wanabisha!!! Sasa wangojee kiama kama Misri ya Mbaraka aliyepo ICU na bado anangoja kifungo yeye na watoto wake!!!!
Wanafilisi nchi mkuu ndio maana kuna mikataba ya Cal-Peters na Mangi wa uchagani!!! Wanafikiri watu hawawezi kufuatilia, dunia ya sasa ni kijiji hukuna pa kujificha, ole wao!!!! Eehe Mungu aliye hai unayeona kudhulumiwa kwa Watanzania ingilia kati utuokoe na hili wimbi la wezi na mafisadi Tanzania!!!!
Wanafilisi nchi mkuu ndio maana kuna mikataba ya Cal-Peters na Mangi wa uchagani!!! Wanafikiri watu hawawezi kufuatilia, dunia ya sasa ni kijiji hukuna pa kujificha, ole wao!!!! Eehe Mungu aliye hai unayeona kudhulumiwa kwa Watanzania ingilia kati utuokoe na hili wimbi la wezi na mafisadi Tanzania!!!!
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