The Forum for National Development –FND- has asked the Anti-Corruption Bureau-ACB to investigate the suspected abuse of a K25 Billion loan ADMARC obtained from NBS bank for the purchase of maize from smallholder farmers.
According to FND, ADMARC allegedly drew K3 billion from loan and diverted it to pay administration costs and salaries of its staff from the month of September 2O21 to December 202l.
It is further alleged that the grain trader used the money to purchase a motor vehicle for the general manager of ADMARC.
Fryson Chodzi – National Coordinator for FND- alleges that the conduct by ADMARC is abuse of office and negligence of the highest order – hence asking ACB to investigate the issue.
However- responding to the matter, Alexander Kusamba Dzonzi , board chairperson of ADMARC confirmed that grain trader borrowed the K25 Billion and that the board was told in January 2022 that management used part of the money for payment of salaries and operational expenses.
‘’When the board was advised of that, the interest of the board was, why was that done without the knowledge of the board, Ministry of Agriculture and Ministry of Finance. So we stopped the process and instituted an audit. We currently have a report of the audit,” said Dzonzi.
Meanwhile Dzonzi said ADMARC has nothing to hide and it is ready to assist ACB with the investigation.
