HomeGovernance

Petrotrade Audit Manager Implicated In Massive Corruption

1 year agoSat, 02 Apr 2022 12:50:27 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Petrotrade Audit Manager Implicated In Massive Corruption

Petrotrade internal audit manager Erisha Bokoro has been implicated in massive corruption at the state-owned oil company with revelations management at the institution has been operating a ‘ring-fenced’ corruption syndicate.

Bokoro is being accused of covering up his acting chief executive officer Godfrey Ncube’s attempts to siphon over US$300 000 of the parastatal’s funds and consenting to the construction of a filling station without contracts between Petrotrade and suppliers.

According to documents seen by NewZimbabwe.com Friday:

i). Bokoro was hired under unclear circumstances as his only notable achievements were his participation in the chaotic land reform programme and a stint at Zanu PF’s Herbert Chitepo School of Ideology.

ii). Bokoro approved the construction of Petrotrade’s Mabvuku filling station without any contract being signed or going to tender as per Procurement Regulatory Authority of Zimbabwe (PRAZ) regulations.

Usanetseke neNetOne airtime.

Baya *405# utenge neEcoCash

iii). In his own report to the board, Bokoro acknowledged that the construction of the Mabvuku Service Station started when there was no contract in place. What he did not reveal to the board is that no contract was signed in the first place and Godfrey Ncube the acting CEO is aware of it.

iv). Bokoro reportedly discovered the alleged systematic corruption by Ncube and ignored them, only to report after the institution’s board had instituted investigations.

Human Resources manager Joe Karambakuwa, who is already on suspension on conflict of interest is being accused of giving Genesis Global Finance a contract without going to tender.

He also allegedly used another consultant, Headhunters, with whom he previously worked.

Energy and Power Development minister Soda Zhemu last month suspended the entire Petrotrade board pending investigations into “matters of corporate governance”.

The suspended board was appointed just last year after the company went for five years operating without one.

Petrotrade suspended board chair, advocate Tinomudaishe Chinyoka has since challenged the suspension which he said was triggered by the board’s resistance to plans to sell Petrotrade for less than US$20 million after an understated valuation that will prejudice the state while benefitting corrupt government facilitators.

More: Pindula News

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback