The Bank of Namibia (BoN) has temporarily suspended Trustco Bank Namibia’s operations.
This comes after consultations between the central bank and the minister of finance and public enterprises, Iipumbu Shiimi.
“The suspension is temporary and is subject to Trustco Bank rectifying stipulated and communicated instances of non-compliance,” the central bank’s governor, Johannes !Gawaxab, said in a statement on Friday.
The BoN expressed concern over Trustco’s internal environment and its failure to comply with orders and directives from the bank.
Customers will still have access to their bank deposits, !Gawaxab assured.