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Former Burundi Central Bank Governor Arrested on Money Laundering and Misappropriation Charges

Money LaunderingFormer Burundi Central Bank Governor Arrested on Money Laundering and Misappropriation Charges

The recently dismissed central bank governor of Burundi, Dieudonné Murengerantwari, has been arrested on suspicion of money laundering and misappropriation of public assets. These charges are provisional, pending further investigations, as stated by the justice ministry. Murengerantwari was removed from his post by President Évariste Ndayishimiye just over a year after assuming office.

Burundi’s economy has faced significant challenges, including a shortage of foreign currency, periodic fuel shortages, and rising prices, leading to a cost of living crisis. Approximately 65% of the country’s 12 million population live in poverty.

The justice ministry’s statement accuses Murengerantwari of actions that undermined the national economy, passive corruption, money laundering, and misappropriation of public assets. While further details were not provided, the former governor will remain in custody during ongoing investigations.

Murengerantwari had initially been appointed to the role for a five-year term but was dismissed in his second year. He previously served as the managing director of Burundi’s state-linked development bank and has been replaced by Édouard Normand Bigendako, a member of the central bank’s board.

Notably, Murengerantwari is the second central bank governor in Africa to face legal issues this year. In Nigeria, central bank governor Godwin Emefiele was suspended in June and later charged with illegal possession of a shotgun and cartridges, allegations he denied.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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