ZNFU cartel conspired to withdraw EMM licence

 

EMM Corporate Partners almost lost their license before a review of their Zambia National Farmers’ Union (ZNFU) audit was undertaken by the Zambia Institute of Chartered Accountants (ZICA) as some senior officials colluded and sided with ZNFU officials over the matter, a source has said. Meanwhile, ZNFU’s Agri-business chamber is today expected to re-elect the cartel-favoured, soft-spoken Ashok Oza as chairperson as the build-up to electing Richard Lisimba as ZNFU president continues ahead of the October 27, 2016, elective congress. Inside sources yesterday told the Daily Nation that some senior officers at ZICA threatened and intimidated EMM Corporate Partners over the audit it conducted which implicated former ZNFU executive director Ndambo Ndambo and was on the verge of having its license revoked. According to the insiders, some of the top leaders at ZICA were not happy that the glaring misuse of funds at ZNFU was leaked to the media. “What you reported about today (yesterday) of accountants doing wrong things to protect their jobs is very true because some senior executives were like small gods at ZNFU as no one questioned what they were doing. The officials had even spread tentacles to key public and private institutions to consolidate their stay at ZNFU and because EMM became a stumbling block to manoeuvres to correct all the wrongs that had transpired at ZNFU, and ZICA  officials threatened and intimidated EMM to succumb to pressure that the audit was unprofessionally done. “The whole idea was to force EMM to disown its own audit but because it is a credible auditing firms withan honest track record, the senior officials failed to sort out EMM as it presented a strong case with plenty of documentation to back their work.  The ZICA officials allegedly consistently threatened EMM officials during review meetings. It was so embarrassing that an institution that should protect professionals under its fold until they are found culpable could have officials siding with wrongdoers,” inside sources said. Meanwhile, ZNFU’s Agri-business chamber is today expected to re-elect Mr. Oza as chairperson as the build up to electing Mr. Lisimba as ZNFU president continues ahead of the October 27, 2016 elective congress. If Mr. Oza accepts his re-election today, the cartel would have succeeded in bringing back all its members and would be in pole position to ensure that Mr. Lisimba is elected at the congress next week, which would see Mr. Ndambo being replaced by his own cousin Coillard Hamusimbi as executive director.

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