Ex-ZANACO Boss Seeks Court Clearance
Former Zambia National Commercial Bank (ZANACO) Managing Director Samuel Musonda has asked the Supreme Court to clear him of the 44 counts of abuse of authority involving over ten billion Kwacha.
This is in a case in which Musonda has appealed to the Supreme Court against the High Court’s decision to uphold a two-year jail sentence slapped on him by the Lusaka Magistrate court three years ago.
Musonda’s lawyer Mumba Kapumpa said his client did not abuse authority but acted within his jurisdiction when he authorised the payment of loans to the Zambia Intelligence and Security Services (ZISS).
He added that Musonda did not benefit from the loans given to the Office of the President but allowed the money to be given to the office of the President to ensure that the intelligence wing executes its mandate effectively.
Mr. Kapumpa said Musonda has paid back all the money he was accused of stealing and it was an oversight on the part of the Court to continue with the case.
In responding to Mr. Kapumpa’s submission the prosecutor urged the Supreme Court to uphold the High Court’s decision on Musonda saying that the lower court was on firm ground when it dismissed the appeal.
The prosecutor said Musonda abused his authority by exceeding his limits for giving unsecured loans of above two hundred and fifty million Kwacha to the ZISS.
A panel of three Supreme Court judges has since reserved judgement in the appeal application to a later date.
In 2009, Lusaka High Court Judge Tamula Kakusa threw out Musonda’s appeal.
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