The National Oil Company of Malawi (NOCMA) says it is cooperating with the Malawi Police Service and Bank of America in investigating a suspected fraudulent payment of US$403,605 involving Mozhandling Limited, a service provider engaged in handling petroleum products through the Port of Nacala in Mozambique.
According to NOCMA, the amount represented an outstanding balance owed to Mozhandling for services provided between August 2025 and January 2026.
The company says it received email communication from an employee of Mozhandling, Patricia Maria, who was following up on the outstanding payment.
In March 2026, NOCMA received further communication purportedly from Maria informing the company that Mozhandling had changed its banking arrangements and providing new Bank of America account details.
NOCMA says it also received documentation purportedly issued by Bank of America confirming the existence of an account in the name of Mozhandling Limited. Based on the information and documentation received, NOCMA instructed National Bank of Malawi to process the payment, which was made on 29 April 2026.
However, about two weeks later, Maria contacted NOCMA again to follow up on the same outstanding payment. After being informed that the payment had already been made, the company says the communication raised concerns about the transaction and the preceding correspondence.
NOCMA subsequently reported the matter to the Inspector General of the Malawi Police Service and requested an investigation.
The Police have since engaged Mozhandling Limited and Bank of America as part of the investigation. NOCMA says a transaction tracker initiated by National Bank of Malawi indicates that the payment was successfully completed and the funds were credited to the destination account held with Bank of America.
NOCMA says it is not attributing responsibility to any individual or institution at this stage, noting that authorities need to establish the circumstances surrounding the alleged impersonation, change of banking details, verification process and subsequent movement of the funds.
Meanwhile, NOCMA management has started reviewing its internal controls, particularly those relating to supplier verification, changes to banking instructions, electronic communication, cybersecurity and high-value international payments.
The review comes against the background of changes in Malawi’s fuel procurement and logistics system following the introduction of the Government-to-Government fuel procurement arrangement.
NOCMA says it is also reviewing systems and controls used during the G2G period following government’s return to the Open Tender System, with particular attention to supplier verification, payment controls and cybersecurity.
The company has pledged to continue cooperating with the Police, Bank of America and other relevant authorities until the investigation is concluded.
