HomePoliticsCBZ law suit a ploy to discredit me - Moyo

CBZ law suit a ploy to discredit me – Moyo

FORMER Information minister Jonathan Moyo has slammed the Jewel Bank (CBZ Bank) for suing him over a $500 million loan repayment dispute, saying the bank wants to “assassinate my character”.

Court papers filed last week show that Moyo lashed out at CBZ for alle

gedly leaking the summons to the media before they were delivered to him as the defendant in the case.

Moyo, who denied refusing or neglecting to pay the $500 million loan, said the leakage and demand for loan repayment — “whose due date is six months away” — were part of efforts to discredit him “for reasons that are best left to speculation”.

“How can I refuse or neglect a demand that did not exist because it had not been made to me?” he asked.
The loan, Moyo said, was borrowed to finance his activities at his Mazowe farm and is due in six months’ time. He said he had sunk $60 billion in the farm and it would be strange after that to fail to repay a $500 million loan.

Moyo suggested the Central Intelligence Organisation (CIO) was behind the “political and malicious” lawsuit because they banked with CBZ and had interests and influence in the Daily Mirror and the state-controlled Herald in which the story was published simultaneously on March 21.

“As a preliminary point, I wish to register my profound surprise and disappointment at the fact that the plaintiff (CBZ), who is a well-known commercial bank, unprofessionally and unethically used the media to publicise the summons and declaration in the matter before I was served with the same,” Moyo said.

“The record will show after the summons were issued by this honourable court on March 17, (CBZ) or its agents availed the same to the Herald and (Daily) Mirror newspapers for publication on the front pages under the byline of court reporter when the matter was not yet in an open court and when I had not been served with the summons.”

Moyo criticised the Herald and Mirror for “unprofessionally and unethically acting in a conspiracy with the plaintiff in an attempt to assassinate my character and reputation”.

He said although he was shocked by CBZ’s unethical conduct, he was also aware that the bank had as part of its shareholders “the ruling Zanu PF government that is known to be malicious and vindictive”.

“What I find particularly objectionable in the extreme about (CBZ)’s behaviour in publishing the summons before they were submitted to the Deputy Sheriff for service on me is that one of the newspapers, the Daily Mirror, which is owned and controlled by the CIO, is very closely linked with the plaintiff who apparently has been bankrolling it,” Moyo said.

“Based on the instant matter, Zimbabweans and the banking community at large have good reasons to have grave concerns about the unethical extent to which (CBZ) is ready and willing to go to abuse its links with the CIO and the Mirror by breaching confidentiality, manipulating and misrepresenting banking data and information to smear and impugn the character and reputation of some of its clients who may not be in the political favour of the CIO, Zanu PF and Mirror newspapers.

“The loan cannot be said to be due as there are still some six months to go before it can be called or demanded as per agreement,” he said. — Staff writer.

Recent Posts

Stories you will enjoy

Recommended reading

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

NewsDay Zimbabwe will use the information you provide on this form to be in touch with you and to provide updates and marketing.