Information sourced by this publication indicates that four top officials from National Economic Empowerment Fund Limited (Neef) have been fired from their posts for defrauding Neef money amounting to MK53.3 million.

Neef Board Chairperson Cornelious Majawa has confirmed of the development in an interview with the press.

According to Majawa, the four including Neef Chief Executive Officer (CEO) Mervis Mangulenje.

Others are head of credit Edwin Visabwe, head of operations Alexon Mwakhula, and head of finance Hilarious Nampota.

The firing of the four follows the hearing was virtually held on January 21, 2021 and followed an audit report which exposed a “criminal syndicate” that some officers defrauded Neef of K53.3 million.