Unprecedented withdrawals alarm ACB

The Anti‑Corruption Bureau (ACB) says about K5.5 billion was withdrawn in cash from a Yusuf Investments Limited account between 27 January and 6 March 2026. In a statement dated April 3 2026, signed by senior public relations officer Jacqueline Ngongonda and service public relations officer Lael Chimtembo, the bureau said the large cash withdrawals were made from a Yusuf Investments account at the National Bank of Malawi. “These large cash withdrawals have raised suspicions of money‑laundering and corruption, which the ACB is actively probing,” the statement reads.

The bureau reopened investigations into the Amaryllis Hotel purchase on March 16 2026. It was bought by the Public Service Pension Trust Fund (PSPTF) from Yusuf Investments. On March 19 2026, the ACB told Parliament’s Public Accounts Committee (PAC) it had issued a restriction notice on two amounts: K38.5bn previously frozen by the Financial Intelligence Authority (FIA) from Yusuf Investments accounts and K38bn outstanding balance of the hotel’s purchase price.

The ACB said the fund paid Yusuf Investments K90.125bn as part payment for the hotel. The account owner is believed to be one of the hotel’s directors. “The bureau is tracing the money trail and profiling public officials and other individuals suspected of having corruptly benefited from the transaction,” the statement added.

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The ACB said it is working with the FIA, the Malawi Police Service’s Fiscal and Fraud Section, and international partners. Nation on Sunday has seen documents showing cash withdrawals from the Yusuf Investments Ltd National Bank account between January 27 and March 6 2026. From that period, 25 withdrawals were recorded.

January 22 2026: K50 million withdrawn and later deposited into a Blantyre Muslim Jamaat account. January 27 2026: K100 million withdrawn and deposited into a Food Lover’s Market account by Aisha Aubi. January 27 2026: K75 million withdrawn and deposited into Centenary Services Fuel account by Aisha Aubi.

January 23 2026: K1.5 billion withdrawn by Charles Gibson Nankhuni; the same amount was withdrawn again three days later. February 2026: K10 million withdrawn and later deposited into LMJ Hospital account by Fabian Chibule. March 2 2026: K10 million deposited into Blantyre Muslim Jamaat account.

On the same day Aisha Aubi withdrew four cheques: K20,075,000; K50 million; K25 million; and K17 million. Charles Gibson also withdrew K500 million that day.

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