RBZ seeks immunity from prosecution

THE Reserve Bank of Zimbabwe has approached the Supreme Court seeking to be granted immunity from prosecution and reprieve against paying back Bindura Trojan Nickel Mine over $1 million seized from the latter’s account held at BancABC in 2007.

In its application before the court, the RBZ said High Court judge Justice Nicholas Mathonsi’s judgment, ordering RBZ to return $1 007 541, 30 to Trojan Mine, had the potential of “opening floodgates” which would result in the Central Bank being plagued with applications from other institutions whose funds were still held by the bank.

RBZ lawyer Advocate Linos Mazonde later sought postponement of the hearing saying he wanted to furnish the court with further evidence that the Central Bank was now enjoying immunity in terms of the General Laws Amendment Act number 5/11.

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