For Immediate Release.
NDC Implores ACC to Probe 500 million U.S dollars Zesco loan.
Revelations by State House that President Edgar Lungu personally signed a sovereign guarantee for a South African firm to secure a 500 million United States dollars loan for Zesco are extremely shocking.
State House has been prompted to issue an official statement over the matter after the corruption scandal was exposed by the private media.
President Lungu abused the authority of his office when he signed the guarantee for a Stag a South African based firm.
The signing of the guarantee in secrecy and without consulting relevant Government wings shows how desperate and corrupt the Lungu regime is.
President Lungu should have instead instructed the Permanent Secretary at the Ministry of Finance to sign the sovereign guarantee if indeed this whole deal was not wrapped in corruption.
Equally, the secretary to the Treasury should have been used as a guarantor to sign the sovereign guarantee on behalf of the Republic of Zambia.
However, we are informed through the African confidential Newspaper that the Treasury was not involved in this whole deal.
The Stag deal is a matter of public interest and we are concerned as to why State House did not publicly announce this undertaking.
It is clear that the whole 500 million Stag deal is a suspicious undertaking looking at the manner in which the guarantee was signed.
As NDC, we urge the Anti Corruption Commission ACC to immediately institute investigations into this deal.
We further wish to implore all parliamentarians in the country to use the Stag scandal as part of the grounds to impeach President Lungu.
It is clear that Mr. Lungu is reckless and has been abusing his office for his own personal gains.
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NDC Media
Read this article from the original source: NDC: ACC Should Investigate Lungu’s $500million ZESCO Deal Cut.