|Known for||Being a banker.|
Under the Commonwealth Secretariat’s General Technical Assistance programme for Ghana, Vingirai was technical advisor to Consolidated Discount House Ltd, the first discount house in Ghana from 1986 to 1990. He chairs the Ghanaian discount house. Vingirai was also advisor to First Securities Discount House Ltd, the first discount house in Nigeria between 1995 and 2000.
In 2016 Vingirai joined the board of ZB Financial Holdings Limited (ZBFH) alongside two nominees. Michael Mahachi and Zororo Muranda of his investment vehicle, Transnational Holding Limited (THL), a move which was expected to trigger a shake up at ZB Financial Holdings Limited. Vingirai was expected to get a 26% stake in ZBFH as compensation for losing Intermarket Holdings Limited (IHL) which ZBFH bought in 2006 after the Reserve Bank of Zimbabwe (RBZ) had bailed out IHL’s subsidiaries and later converted the debt into equity under a High Court scheme of arrangement. 
He was given a 19,7% shareholding in ZBFH in 2016.
Externalisation and abuse of Intermarket Bank funds
He was acquitted of 11 counts of theft and two of externalisation involving US$300 000, R1 500 000 and Z$5 216 727. Vingirai was accused of using depositors’ funds for his own benefit or for the benefit of companies in which he had interests. It was alleged that on August 28, 2003, Vingirai allegedly issued a cheque valued at Z$570 000 000 drawn from the Intermarket Private Bank towards First Bank Corporation Ltd for the purchase of US$100 000. The funds were later exported to Citibank London via Intermarket Banking Corporation Zambia without the authority of the Reserve Bank of Zimbabwe.
It was further alleged that on September 6 the same year, Vingirai issued a cheque valued at Z$630 000 000 drawn from the Private Bank account to Remo Stockbrokers. The funds were reportedly channelled through Coppleridge to Century Bank where US$200 000 was purchased and later transferred to Intermarket Discount House in Zambia.
It was alleged US$100 000 was later credited into Vingirai’s personal account while the remainder was transferred into his account in the United Kingdom without authority from the central bank. The State also said on September 9, Vingirai issued a cheque worth Z$20 million to Micro-warehouse as a commission to Jivan who had facilitated the sell of foreign currency from First Bank in August.
On November 19, Vingirai again issued a cheque worth Z$1 930 934 to the ZIMRA Commissioner-General for the purchase of vehicles imported by Investment Cars, which had nothing to do with Intermarket Holdings. He gave one J. Rose a cheque valued at Z$6 000 000 and this had nothing to do with the company. He also bought a personal vehicle worth Z$130 000 000 using the company’s funds.
The court further heard that on December 17, Vingirai paid Z$8 490 270 to Zimra as duty for the imported vehicles. He also paid for a house in Greystone Park on behalf of Frank Buyanga, the court heard. In August the same year, Vingirai allegedly exported US$300 000 to Citibank through Intermarket Discount House in Zambia without the authority of the RBZ. The following month, he exported R1 500 000 to Andrew Weir and Company’s account at Royal Bank of Scotland.
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- Ndamu Sandu,Vingirai’s grand return to banking, Standard, published: July 17, 2016, retrieved: May 17, 2017
- Vingirai demands $2,7m from ZB, Daily News, published: May 15, 2017, retrieved: May 17, 2017
- Innocent Ruwende, Nicholas Vingirai acquitted & freed by court, Nehanda Radio, published: July 3, 2012, retrieved: May 17, 2017