Gaborone, Botswana — Nixon Marumoloa, Chief Executive Officer of Botswana Savings Bank (BSB), has been placed on precautionary suspension. The state-owned financial institution confirmed the development, outlining that an internal investigation is underway.
Internal Inquiry Initiated
The BSB board announced the suspension through a market update disseminated via BSE News. They clarified that the measure is procedural and does not imply any finding of wrongdoing on Marumoloa’s part.
Presumed Innocent Status Maintained
According to the board, Marumoloa “remains presumed innocent” throughout the duration of the internal process. Further details regarding the nature of the investigation were not immediately provided.
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