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Govt to seize goods if importers fail to declare source of forex

GOVERNMENT will be seizing the goods from importers who fail to declare their source of foreign currency, a move officials say is meant to discourage the use of parallel market forex activities.

Finance and Economic Development Deputy Minister Clemence Chiduwa said the policy is designed to encourage people to use their nostro accounts in commercial banks.

Chiduwa made the revelations during a press briefing by Finance Minister Mthuli Ncube in Harare today.

In June this year, Government banned the multi-currency regime and introduced the local currency, but parallel market activity has continued even in the presence of licensed bureaux de changes and the interbank forex platform.

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