BLANTYRE (DK Kadango, Oracle) – We therefore write that you provide us with the following details: Details of All accounts Ulalo has with National Bank; Signatories to the Accounts; Full Statements of the Accounts since they were opened; All Documents used to open accounts.

Dr Mathews Chikaonda in the 14 years at the helm of the largest Conglomerate in Malawi, he became so powerful and the law unto himself. He had no regard for any person or institutions. It was not until last month when the Government revealed it all in an effort to clip his wings. The expose’ left the most powerful Executive in Malawi leaking his wounds and extremely bitter.

It never rains but pours for the learned man. Chikaonda has suffered yet another humiliating blow when he was exposed to be the main man behind the uncharacteristic corporate behavior of the empire that he is leading namely MTL and National Bank of Malawi.

1. It all began with MTL Executive, Ms Hilda Singo who seemingly defied the Supreme Court proceedings by releasing the Cheque to the wrong parties when court injunction was in place and proceedings were underway in the Supreme Court of Appeal. When the Court ordered that the money be paid to the rightful owner, Ulalo Capital Investments, she had nothing to pay. Hilda, née Chipanda is a celebrated achiever. Certified Public Accountant by profession. Her explanations, loss of memory and or confusion about entire saga left her looking so stupid, used and dumped. She was badly compromised and left exposed. She was dragged to the High Court. Supreme Court Orders

2. Ulalo proceeded to seek relief. It sued MTL. The High Court found for Ulalo and ordered MTL to pay Ulalo. Either through sheer incompetence and or demeaning Court proceedings, MTL never bothered to defend the matter. Never showed at the Court on a scheduled date. Inside sources indicated that when the Judgment was pronounced, Chikaonda was raving mad. He instructed MTL never to pay the money but fight to the very end. He demanded to have the matter reheard. They put the blame on their legal counsel. In the name of fair trial and outcome, Ulalo agreed to have the matter reheard. Here is the Self explanatory Judgement which they claimed was unfairly delivered. Court Orders

3. Then came revelations through the Court Proceedings. MTL was trapped and compelled to produce documentary evidence to prove that they had paid and money flowed. MTL produced the proof. It was revealed that the Cheques were deposited into the National Bank Account in the name of Ulalo Capital Investments. The case of money laundering, fraud and forgery was established. Dr Lanjesi used fake documents to open the account with National Bank. Fake Documents: False-Documents-Submitted-to-Registrar-of-Companies-in-Malawi. No bank of repute would satisfy itself with such crudely forged documents. It could only be done with the help of senior Bank officers. Once again, the sources pointed to Chikaonda’s instructions to help Dr Lanjesi.

4. The final blow. The highly placed source within the Bank informed Ulalo Management that there was unusual communication between Chikaonda, the Bank and legal Counsel of Dr Lanjesi. James Masumbu secretly wrote notice of instruction to National Bank Transfer Secretaries, the newly appointed Transfer Secretaries for TNM, to divert the forth coming TNM dividends to National Bank account. The source went further to reveal that plans are at advanced stage to transfer Ulalo TNM Shares to other entities, fake sell of shares. When National Bank was confronted to the existence of such correspondence, they admitted and shed more light on the unlawful plans. The source was very specific. James Masumbu wrote his secret letter on 9th of March 2016. Once again, Chikaonda featured. The revelations have shaken the foundation of an established institution. Forced to admit the potential hazards.

5. Dr Lanjesi’s attempts to fraudulently change the directorship of Ulalo both in South Africa and Malawi with company registrars by lodging fake papers ended up in humiliation. He was caught red handed in both instances. In South Africa, he is facing criminal charges of fraud, forgery and corruption. He acted in contranvetion of Company’s Act. In Malawi, the High Court declared his attempts unlawful.

Chief Executive of any organization is a position of trust. Only angels in heaven can explain what’s happening at Puma with an executive who commits fraud with impunity to retain the position. This is the rot that Chikaonda is leaving behind as he disappears into retirement sunset. Dr Lanjesi is the victim of poor legal advice. His lawyer, James Masumbu has performed worse than unskilled plumber. His client was reduced to desperately committing petty criminal acts after court humiliations. The assistance from Chikaonda to divert Ulalo dividends was surely the most stupid thing to embark on. It would expose the bank and employees to criminal prosecution. Court Order on Directorship

That’s how the hell broke loose. The battle line was drawn and Chikaonda was directly brought to the fore.
Mr Mbele wrote his legal advisor, Counsel Wapona Kita to get clarity on the matter from the National Bank. He copied the letter to the Bank, Tembenu Masumbu and Dr Chikaonda.

19th April 2016

Dear Wapona,
We are alerted by Transfer Secretaries of TNM as follows: On 9th March 2016, the Counsel Tembenu Masumbu, representing Mr Mapunda and Dr Davies Lanjesi wrote the Transfer Secretaries giving them instructions. The letter purports that the learned Counsel is representing the bonafide Shareholders of Ulalo Capital Investments Limited.
We are aware that there is a Court Decision on who are the legitimate Shareholders of Ulalo Capital Investments (Malawi) Limited.
Sir, would you kindly bring to the attention of the National Bank Transfer Secretaries that the letter from Counsel Masumbu is nothing but a gross misrepresentation of material facts, deliberately misleading with intention to assist his clients to commit fraud against the Ulalo.
Thank you JC Mbele
Group Chief Executive

20th April 2016
The Chief Executive Officer
National Bank of Malawi
Attention: Mr George Patridge
Re: Ulalo Capital Investments Bank Details
I write on behalf of Ulalo Capital Investments Limited.
It came to our attention during the Court Proceedings in the Commercial High Court that Ulalo Capital Investments Limited has a Bank Account (s) with National Bank into which money fraudulently received from MTL Mobile was deposited.
We therefore write that you provide us with the following details:
1. Details of All accounts Ulalo has with National Bank;
2. Signatories to the Accounts;
3. Full Statements of the Accounts since they were opened;
4. All Documents used to open accounts.
We would like to put on record that such accounts were opened with fraudulent and or forged documents for purposes of money laundering and other criminal activities.
We would certainly be most obliged to receive the requested information within the next 48 hours so that we can proceed to lay criminal charges and or take any other appropriate action we may deem fit.
Joshua Chisa Mbele
Group Chief Executive
1. National Bank Chairman: Dr Matthews Chikaonda
2. Risk & Compliance Dept; National Bank
3. Ms Jane Msaka; Ulalo Chief Operating Officer
4. Mr Gift Nankhuni; Ulao Company Secretary
5. Mr Wapona Kita; Ulalo Legal Counsel
• National Bank of Malawi failed to officially explain itself how a Bank Account was opened with forged documents.

Put on the spot, Chikaonda responded to defend the indefensible or whatever is left of his integrity if any at all. What he could not deny adequately was personal and intimate involvement in clearly unlawful and criminal scheme of things.
• Chikaonda’s strong worded letter:
Hear! Hear! Hear! That’s the beauty of Democracy. He who alleges must prove and we all have a right to be presumed innocent unless proven guilty in an open forum we call the “Courts” where such matters should be argued before an independent arbiter. Also, he who seeks justice must come with clean hands.

We also note that under the democratic dispensation, the accused has a right (not a privilege, but “the right”) to face their accuser in the said open forum. Further, under the same democratic dispensation, we are guaranteed many rights, including freedom of speech and expression. However, there is no corollary right for people to listen to you when you choose to speak or express yourself. Yes indeed, you even have the right to make a fool of yourself.

So, for me, based on the many years of experience in Academia, public and private sectors, where I had the privilege of dealing with high-ranking people like Presidents, Prime Ministers, etc on the one hand; and also little stuff like mosquitos and fire-flies, on the other, I have learnt a number of lessons and wish to share a few as follows:

1. Don’t argue with a fool because you might be mistaken for one yourself.
2. It is better to keep your mouth shut and let people think you are a fool than to open it and remove all possible doubt.
Since Mr. Mbele has just succeeded in breaking Rule No. 2 above, I wish to advise everyone else to stick to Rule No.1 above. There again, you are entitled to choose freely. Even if you choose wrongly, it’s your right. During the years of my sojourn in America, I also learnt a few lessons and a new, more direct way of speaking, whereby you don’t call a spade a “big spoon”. So, to Mr. Mbele, I wish to offer the following advice in the parlance of Mid-west America: “SHIT OR GET OFF THE POT“

Mr. Mbele, See you in Court. I say, bring it on sooner rather than later and don’t waste our precious time with your gutter journalism stuff, masquerading on Social Media and Nyasatimes as “Grace Phiri” or such other fake pseudo names. It is said that the truth shall set you free. Make evidence-based arguments in the proper forum. Also, it is instructive to note that when you speak the truth, you don’t even have to remember what you said or did, when, where, etc. The truth defends itself. So, if you were grounded in the truth, you would not have been spitting out all this junk. Grow up Mr. Mbele and smell the roses !! By the way, you tried to give me advice in one of your submissions, kindly not that I would rather take advice from a donkey that a Mr. Mbele. You are NOT competent to give me advice for I know that if one asked a turkey during Christmas as to what the best stuffing is, the turkey will say “worms, grit and sand”. So, advice from you would be like this advice from a turkey.

In my retirement mode, I have the time to exercise my right to defend myself and respond to any and all allegations.
To the rest of the accused, I say to you: see Rule No.2 above.
I rest my case.
Yours truly,
Mathews A.P. Chikaonda, Ph.D
Bambo Phiri ku Nkosini kwa Kachindamoto, and Impi of the Maseko Ngoni

The response could not be better put

Dear Mathews A.P. Chikaonda, Ph.D
Bambo Phiri ku Nkosini kwa Kachindamoto, and Impi of the Maseko Ngoni
This serves to acknowledge your letter addressed to Ulalo Capital Investments Limited in reply to the concerns that we raised regarding unusual activities taking place at National Bank Transfer Secretaries, which is supposed to operate within the strict Rules of Malawi Stock Exchange for Publicly Listed Companies.
On careful reflection, we would like to express our position as follows:
1. We included you in the correspondence in your capacity as the Chairman of the Bank. We were compelled to alert you because of the recent unusual developments to our detriment.
2. Dr Lanjesi is the Chief Executive of Puma. Press Corporation has interest in Puma. Meaning Dr Lanjesi operates within the sphere of your control and influence.
3. Dr Lanjesi used fake and forged documents to open a Bank Account with National Bank (“this Bank”) in the name of Ulalo Capital Investments Limited.
4. Dr Lanjesi collected a Cheque from MTL Mobile where you are/were a Chairman and deposited it into the account he opened. The Cheques were collected by means of misrepresentations.
5. The Supreme Court of Appeal ruled in favour of Ulalo Capital Investments against Dr Lanjesi over the MTL Mobile Cheques.
6. The High Court has ordered the MTL Mobile to repay Ulalo the money negligently paid to Dr Lanjesi & others.
7. Today, Dr Lanjesi & others secretly attempted to access Ulalo Shares and its dividend in TNM.
8. You are the Chairman of TNM. You are the Chairman of National Bank. Dr Lanjesi is your subordinate in Puma.
9. All the decisions from your side are clearly biased against Ulalo Capital Investments.
10. Your letter is illuminating. It is also demeaning and derogatory to say the least.
11. You are intimately involved in the legal issues between Dr Lanjesi, others vs Joshua Mbele. You have taken a position to fight against the interests of an innocent client, Ulalo Capital Investments Limited.
12. You are apparently involved in legal strategies for supreme court hence Counsel Masumbu is sharing and discussing our submission to the Supreme Court with you.
13. Your letter sets a tone how National Bank should deal with Ulalo Capital investments Limited.
Sir, take note that you may not have realized that you have broken the Cardinal Code of Corporate Governance. In fact, you have shed more light on your personal involvement in defeating the ends of justice. From our position of observation, you are the epic of collusion. Your conduct is not only unethical but also criminal.
Sir, using your advice from parlance of Mid-west America, let me Shit Or Get Off The Pot. You don’t argue with a fool.

2007: Happier Times
Kindly find the reminder that we were once good friends. Eating & Drinking Wine at my House, Fourways, South Africa. I brought US$4.4m in Malawi economy with your blessings. Today, I’m worse than a Donkey.
Tsiku Labwino Bambo Phiri ku Nkosini kwa Kachindamoto, and Impi of the Maseko Ngoni.

Ine Wanu
JC Mbele

Chikaonda is stepping down on 31st December 2016 after 14 years of service with Press Corporation. He has actually been pushed away, he tried to extend his stay. He was handpicked by the then President Muluzi and imposed on the Conglomerate after his dismal failure as the Governor of the Reserve Bank of Malawi and later as Minister of Finance. He is currently under immerse pressure to resign from the helm of the organization. Last month, Malawi Government accused Chikaonda of maladministration, corruption and sheer incompetence. The government has promised to launch formal investigation and bring criminal charges against him. Malawi Government indictment of Chikaonda

In an Exclusive Interview in April 2009, the former President of the Republic of Malawi, His Excellency Bakili Muluzi lamented Mathews Chikaonda as ungrateful dog with a filthy heart.
Galu wachabe-chabe. Wosayamika. Woyipa mtima kwambiri. I put him in that position. I later realized that I made a very big mistake. I actually fired him from government. Polingalira kuti nanga alowera kuti, ndinamupatsa udindo ku Press. I also fired him from Press Corporation. Mwana wa kuba. He was saved by Press Trust.

President Joyce Banda promised him a Ministerial Position when she ascended to power following the death of President Bingu wa Mutharika in 2012. She changed her mind after consultations. By then Chikaonda had already told the Board of Directors that he would be stepping down.

What would be wrong with this learned professor? Manipulation. Greed. Opportunism. Corruption. Bakili Muluzi was, therefore, very accurate in his candid description of the learned man who has destroyed Press Corporation.

The legacy of Mathews Chikaonda is that of a highly educated person but incredibly incompetent and shameless crook who served his personal interests at the expense of everybody. He colluded with Hitesh Anadkat the Chairman of Livingstone Holdings, the owners of FMB bank to commit what would only be described as the biggest fraud and inside trading in Malawi’s corporate history and Stock Exchange. The crime that would have seen them behind bars if President Bingu wa Mutharika had not suddenly died in April 2012.

Chikaonda has an axe to grind with Ulalo for reporting him to Reserve Bank of Malawi for investigation. As the Regulator of Malawi Stock Exchange, the Central Bank launched an investigation into TNM IPO. Both Chikaonda and Anadkat as Directors were questioned. They were asked to submit written answers to series of questions. They had two weeks to reply. In the end, the Reserve Bank came to one conclusion.

TNM IPO was a massive fraud. Criminal investigation was recommended. The report was prepared and presented to President Mutharika to authorize ACB to take over the matter. Sadly, Mutharika suddenly died of cardiac arrest in that very week of 5th April 2012. Chikaonda has a Case to answer. His determination, today, to harm Ulalo must be understood. Ulalo put him in trouble. RBM-TNM-ULALO.

It was Mr Mbele that stood up to Chikaonda, challenging him on Corporate Governance issues. He wrote Press Trust as the largest shareholder of Press Corporations to scrutinize the relationship between Chikaonda, Anadkat and TNM. He outlined areas of concern in letter that revealed deep-rooted reservations of asset-stripping, held by many within Press Group, in favour of Livingstone Holdings. TNM Related Concerns

The stance taken by Malawi Government on Dr Mathews Chikaonda vindicates the position of many people who could not speak openly for fear of victimization.

The media fraternity in the country concurs on one thing, Chikaonda has paid journalists handsomely to write good of him. The Orakonews has received many handsome offers from his middlemen to pull down articles critical of Chikaonda. The Orakonews has refused. His legacy survived on bribing the media to put his name in good light. The man is corrupt from head to toe.

Chikaonda will not be leaving the office alone. Many more casualties will follow. Those that worshiped him to the extent of putting the professional conduct in the dustbin in order to please him. He has compromised many brilliant professionals. In the end, he dumped them to an early professional graves.

Truth be told. Dr Mathews Chikaonda is a poignant story common on the continent. Coming from the poorest background. Educated. When they acquire power and influence, they suddenly become arrogant, untouchable yet incompetent. To believe this line of thought, one must go to Mtakataka and see the place where the famous professor comes from. Heartbreaking sight. He never did anything for his struggling relatives. Not even a thatched hut. Chikaonda is incredibly selfish.