BUJUMBURA January 17th (ABP) – Trading in currency without the authorization of the Bank of the Republic of Burundi (BRB) is an offense punishable by law, said the Minister of Public Security and Disaster Management on General Police Commissioner, Mr. Alain Guillaume Bunyoni during the presentation of the achievements of his ministry during the first half of the 2019-2020 fiscal year.
Indeed, according to him, the companies which have been created very recently, including Crowd I which trade in virtual currency do not have the authorization of the central bank because there is a circular from that same bank which alerts the people there are companies that deprive people of their money without return and without any guarantees.
The law is clear, said Minister Bunyoni adding that one cannot enter the field of banking, investment, financial establishments, manipulation and monetary transaction without the authorization of the BRB.
It is for that reason, he said, that the people of Crowd I must be prosecuted for having misled the vigilance of the administration by advertising without that authorization.
According to Minister Bunyoni, the way that company works is by no means far from a worse scam as that company asks people for a colossal amount of 400,000 BIF for membership and to recruit other people so that they go up the ladder to earn and have a lot of money, a worse setup.
The minister in charge of public security took that opportunity to alert the Burundian population not to fall into the traps that the BRB had already alerted in time.
He also gave a warning to companies and businesses that set up on Burundi soil and that begin to do such activities without authorization from the competent authorities. They will be tracked down and will have to answer to justice.
In addition, the Minister in charge of security declared that compared to the first quarter of 2018-2019, security has improved significantly and the illegal holders of firearms have decreased significantly following preventive and repressive actions carried out by the Burundi National Police (PNB).
For example, according to Minister Bunyoni, the grenades seized decreased by 43.4%, the guns by 4%, while the prohibited drinks decreased by 28.3%. He also recalled that in the third quarter of 2018-2019, the crime rate was reduced by 38.7%.
