LILONGWE-(MaraviPost)-The National Oil Company of Malawi (Nocma) has launched an investigation after about MK700 million intended for a service provider was allegedly diverted through fraudulent banking instructions.
Local media reports say the payment involved US$403,605 for petroleum-handling services provided by Mozhandling Limited at the Port of Nacala in Mozambique between August 2025 and January 2026.
Nocma said it received a series of emails from a person identifying herself as Patricia Maria, who claimed to be following up on an outstanding payment to Mozhandling. In March 2026, the correspondent allegedly informed Nocma that the company’s banking details had changed and supplied a new Bank of America account.
Nocma said the documents provided included a letter purportedly confirming the new account.
Based on the information, the company instructed National Bank of Malawi to make the payment, which was transferred on April 29.
The alleged fraud became apparent about two weeks later when Maria contacted Nocma again seeking payment, despite the company having already transferred the money.
Nocma said it reported the matter to the Malawi Police Service, which is investigating.
The incident has raised questions about the strength of Nocma’s financial controls.
Human Rights Defenders Coalition chairperson Michael Kaiyatsa said authorities must establish how such a large payment could be redirected through changed banking details without adequate verification.
Centre for Social Transparency and Accountability executive director Willy Kambwandira similarly said changing banking details for a transaction of such magnitude should require independent verification and senior-level approval rather than relying primarily on email correspondence.
The case comes as Nocma plays a central role in Malawi’s fuel-importation system following the government’s shift to Government-to-Government procurement in 2024.
Nocma has attributed some of the challenges to the complexity of new international procurement, shipping, financial and clearing arrangements that were still being developed and institutionalised.
The investigation will now be closely watched, particularly over whether the money can be recovered and whether weaknesses in Nocma’s internal controls allowed the alleged fraud to occur.
