ARMED GUARDS IN FARMERS BANK DRAMA, COPS CALLED

MANZINI – For over an hour, Farmers Bank resembled a scene from a movie, as armed security guards in their riot gear stood outside its entrance.

The incident unfolded yesterday at the Manzini offices of the bank, where it was gathered that the guards were accompanying attorneys who were there to serve some of the employees with suspension letters. According to sources, the drama started at around 2pm when the security guards came to the establishment’s offices at Corner Mhlakuvane and Tenbergen Street in Manzini.

Suspension

It was gathered that the security guards came after a deputy sheriff had served about seven employees of the bank with suspension letters. The sources claimed that there had been challenges between some of the bank’s shareholders and the personnel; however, the allegations could not be confirmed by the time this article was compiled. The sources claimed that the armed security guards arrived with one of the shareholders and entered the offices. However, it was claimed that after some time, they exited the premises and took position near the entrance. When this publication’s reporters arrived at the scene, the guards were near the entrance. They spent about an hour at the scene, which drew the attention of passers-by. This was because the about five security guards, who were clad in a black uniform and burgundy berets and belts, were armed with various gun models. They were also wearing bulletproof vests and gloves.

Their riot gear was similar to what has become synonymous with State security personnel, following the 2021 political unrest in the country. Some spectators were curious to establish what was happening as they had assumptions that there could have been an armed robbery at the scene. It is worth noting that after almost half an hour at the scene, some police officers were seen and they engaged with some of the people who were with the security guards, before leaving later on.

Guards

When reached for comment, Chief Executive Officer (CEO) of the Farmers Bank, Siphiwo Dlamini, said they were not aware as he found the guards when he arrived at the office. Leading to their presence, he said nothing had been communicated to the management of the bank. He said they engaged the  directors of the security firm and sought to establish their purpose, which resulted on them reaching a compromise. Dlamini said on the issue of suspensions, they were not legimate according to the bank and as such, they were null void. He said the bank reported to the Central Bank of Eswatini (CBE) and there are laws and regulations which guide everything to do with the bank’s existence.  “The person who goes around calling himself a shareholder or owner of the bank was removed and stopped from presenting himself as such by the Board of directors, therefore, cannot bind the bank in any way,” Dlamini said. He said they were not aware of the position of the individual who was projecting himself as a shareholder and they had already reported it to local enforcement agencies.

Meanwhile, Deputy Chief Police Information and Communications Officer Assistant Superintendent Nosipho Mnguni, confirmed that police officers attended to the scene. She said they had been requested to be present as the security officers and a legal practitioner were to serve some employees with certain communication. Mnguni said their role was to ensure peace and security and nothing beyond that. It is worth noting that on March 24, 2024, the Times SUNDAY reported that an on-site inspection report expected to be compiled by the CBE would determine the fate of the Farmers Bank. The commencing of operations of the Farmers Bank has, for more than three years, been delayed, as it has been argued that this was due to that it had still not yet complied with certain procedures, as per the provisions of the Financial Institutions Act, 2005.

Licensed

Recently, Members of Parliament (MPs) sought answers from the Ministry of Finance on the status of the bank and what was currently being done. In a response provided by the Ministry of Finance, the Farmers Bank remains a licensed bank under the aforementioned Act. According to the ministry, the CBE last reviewed the Farmers Bank’s licence in September 2023, for one year. The ministry said the bank is, however, considered a ‘bank in organisation’ since it had not commenced operations or opened doors to the public. Also mentioned was that the CBE met the Farmers Bank monthly to discuss progress and that it recently conducted an on-site inspection as part of the requirements before commencing operations.

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