NBFIRA blocks CMB's 11th hour escape bid

The move was a stark about-turn as CMB, since the beginning of the year, has fought off NBFIRA’s attempts to place it under statutory management. The regulator wanted the statutory management as part of a probe into the now famous P422 million saga involving monies invested by Botswana Public Officers Pension Fund (BPOPF).

Yesterday, several high level industry insiders told Mmegi that CMB had attempted to surrender its licence with NBFIRA, while promising to drop its other battles with BPOPF and Bona Life, the latter now a closed firm, which is demanding the return of P133 million from CMB.