Three accused of stealing K1 billion from NBS Bank

A businessperson and two former NBS Bank officers are being accused of stealing over K1 billion from the bank.

The three appeared before High Court in Blantyre this morning where the Directorate of Public Prosecutions started parading witnesses.

The suspects are businessman Dickson Kachingwe, former NBS Accounts Officer Goodson Kapalamula and Operations Officer Victor Banda.

From 2015 to 2016, Kachingwe allegedly used the banks Same Day Value Facility Kachingwe to steal money with the help of the other two.

Under the Same Day Value Facility, a customer is allowed to access funds of a cheque while the cheque is yet to be cleared by the bank.

Kachingwe had another account at another bank which had no money and he would deposit cheques to NBS.

The cheques were supposed to bounce at NBS but they were being cleared by the then Accounts Officer Goodson Kapalamula and Operations Officer Victor Banda.

This way, the three are suspected to have stolen over K1 billion from NBS.

This morning the state through the Director of Public Prosecutions was parading witnesses in the case.

NBS bank is one the biggest in the country. For the six months ending June 30 2021, the bank made a profit of K4.4 billion.

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