Delaying the investigation of the case against the head of the NBU Legal Department may have negative consequences for the state

The head of the National Bank of Ukraine's (NBU) legal department, Oleksandr Zyma, is under serious pressure in connection with a criminal investigation that calls into question his ability to hold his position. The case is related to alleged abuse of office and possible corruption by the NBU's chief lawyer, which could affect the credibility of the country's key financial institution, UNN reports.

Context

At the end of December 2023, the State Bureau of Investigation opened a criminal proceeding on the fact of possible abuse of office by the NBU's chief lawyer. The case concerns a letter from the National Bank to the Deposit Guarantee Fund signed by Zyma, in which he recommended that the Fund withdraw the lawsuits filed by Concord Bank against the NBU.  The document referred to four lawsuits filed by the bank against the NBU, in which Concorde demanded the cancellation of fines totaling almost UAH 63.5 million. They were filed even before the National Bank decided to liquidate Concorde and put it under temporary administration. It is worth noting that Zyma, in addition to the National Bank's legal department, also heads the Administrative Council of the Deposit Guarantee Fund.

According to Concorde co-owner Olena Sosiedka, Zima's instructions deprived the bank's shareholders of their constitutional right to a fair trial. 

After more than 9 months, SBI investigators transferred the case of the National Bank's chief lawyer to the Police Department in the Pechersk district of Kyiv. According to Yulia Sosedka, co-owner of Concorde, law enforcement officers are trying to delay the investigation.

"This behavior of the investigating body indicates that someone is using administrative resources to block the consideration of the case on the merits. This undermines the fairness of the process and impedes the protection of my legal rights, which raises serious doubts about the objectivity and impartiality of the investigation," said Yulia Sosedka.

She also said that investigators refused to recognize her as a victim in the case despite the court's decision and added that the bank's shareholders would continue to fight for their rights.

As the NBU's chief lawyer, Oleksandr Zyma plays a key role in ensuring legal support and compliance of the bank's activities with the law. However, the compromise caused by the criminal proceedings against him not only calls into question his professional reputation, but also affects the overall image of the NBU. At a time when Ukraine is under the scrutiny of international organizations, including the IMF, the issue of the purity of the business reputation of officials is extremely important. Moreover, during negotiations with international partners, the NBU's international partners constantly emphasize the need to increase the Ukrainian authorities' efforts to fight corruption.

The existence of a criminal case could also negatively affect the process of financial sector reform and restore the confidence of international organizations supporting Ukraine. Society expects a transparent review of the situation, as the issue remains unresolved and national interests may be at risk due to possible abuse of power. Therefore, any attempts to delay, in particular by the alleged patrons of Winter, are harmful to the state.

Obviously, the continued presence of the compromised person in office will raise questions about the effectiveness of the NBU's legal department and its role in ensuring the rule of law in the country's financial system.

Recall

Earlier, security expert Serhiy Shabovta said in a commentary to UNN that Zyma has a patron and therefore feels impunity. According to him, the National Bank's chief lawyer, Oleksandr Zyma, is a person close to NBU Governor Andriy Pyshnyi. That is why he is confident that he will not be prosecuted under the current legislation for his violations.