Bank of Zambia governor Caleb Fundanga has been fired from his position with immediate effect.
Sources have told QFM that the bank governor, who was at the helm of the sale of the questioned procedure of Finance bank, was fired earlier this week.
Dr. Fundanga yesterday bid farewell to management and staff at the Bank of Zambia headquaters in Lusaka.
Dr Caleb Mailoni Fundanga has served as Governor of the Bank of Zambia since March of 2002.
He was appointed Governor, after serving as Senior Advisor to the President of the African Development Bank in Abidjan, Cote Ivoire from 1998.
Dr. Fundanga also served as an Executive Director at the African Development Bank.
Dr. Fundanga also served as Permanent Secretary in the Ministry of Finance for six years at Cabinet Office before finally winding up in the Office of the President as Permanent Secretary in charge of the National Commission for Development Planning.
Dr. Fundanga's firing is seen as some of the major changes the new Patriotic Front government is undertaking.