Mnangagwa sued over ‘illegal’ Mushayavanhu appointment as RBZ boss

By Staff Reporter

Two student leaders who are members of the firebrand Zimbabwe National Students Union (Zinasu) have given President Emmerson Mnangagwa a five-day ultimatum to reverse his ‘illegal’ appointment of top banker John Mushayavanhu as RBZ governor or face legal action.

This was revealed Friday by the Zimbabwe Lawyers for Human Rights, who have been hired by Valentine Ziko and Nesbert Munyuki to pursue the matter.

They argued Mushayavanhu’s appointment to head the central bank is “afflicted with legal irregularity”.

ZLHR have assigned member attorney Kossam Ncube to represent the student litigants.

Mushayavanhu was appointed as central bank chief by Mnangagwa for a full term of five years.

He replaced John Mangudya, who ran his own full terms and was unpopular for presiding over the reintroduction of the much-resented Zimbabwean currency.

Mushayavanhu’s elevation to the country’s biggest banking job was flagged by observers as a clear violation of the Section 16 of the RBZ Act which disqualifies any person who is a shareholder of a banking institution from being appointed as central bank governor.

Reports say Mushayavanhu owns 7 percent of FBC, the 4th largest bank in Zimbabwe.

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