Central bank governor called for investigation into Zimbabwe board finances

The seriousness of the dispute bedeviling Zimbabwe cricket became clearer with the news that Gideon Gono, the central bank governor, had called for the investigation into allegations of irregular foreign currency dealings at Zimbabwe Cricket (ZC).

Gono took the decision to launch the probe after serious allegations were made against Peter Chingoka, the ZC chairman, and Ozias Bvute, the managing director. The pair were called in last week to answer questions while the Reserve Bank of Zimbabwe's Financial Intelligence, Inspectorate and Evaluation Unit raided ZC offices last Thursday and searched for cash and documnetation.

Chingoka looked to play down reports that he and Bvute were being investigated, telling reporters that they were cooperating with the RBZ investigators. "We have had some very constructive meetings with RBZ officials," he said. "ZC will continue to cooperate fully with the RBZ officials as they guide us in ensuring compliance with their requirements."

Bvute confirmed their discussions with the RBZ unit centred on the allegations raised by the provincial chairmen in a dossier submitted to the central bank. "We've not been arrested," he claimed. "We held a meeting to clarify issues and get guidance from the exchange control authorities."

"It is not our practice as a central bank to disclose whether interactions with ZC are of a consultative, investigative or of a social nature," an RBZ spokesman told the Zimbabwe Independent. "However, we wish to advise that apart from the supervision and surveillance of banks, the Reserve Bank of Zimbabwe has an arm that looks into the economic behaviours of various players."

The dossier contained a number of allegations, one reportedly questioning whether Chingoka had switched the controversial $75,000 honorarium he was granted last year to South Africa, and in doing so had flouted Zimbabwe's strict exchange control regulations.

The dossier also queried rumours that a female ZC employee had allegedly disappeared with US$75 000. That money was paid by a sponsor directly to a bank account in South Africa, although it appears that the board were duped by the employee rather than being party to the transaction.

Chingoka dismissed the allegations as "financial mudslinging (that) appears to be the final strategy in the anti-ZC destabilisation campaign". He added that he was ready for an audit. Despite the bullish comments - the first in more than a week which has seen the board's two senior officials come under intense pressure - the indications are that this will not go away. Officials spoken to by Cricinfo have said that the investigations are continuing but that no statements at all will be issued until more is known.