A Zambian government official who disclosed this to Reuters, said Banda is being “accused of stealing more than $11m (£7m) during his three years in office.
Mr Banda who was stripped of presidential immunity earlier this month, was questioned for nearly three hours before being freed on bail, Reuters news agency said.
However, the former president has denied the charges, saying he was a victim of a witch-hunt. He is due in court today.
Shortly after being released, Mr Banda, while addressing his supporters, told them to remain calm and that he would win the case in court.
It would be recalled that the former Zambian leader lost the 2011 elections to Michael Sata, whose government instituted the investigation of several high-profile deals made by Mr Banda’s administration amid accusations of corruption.
Mr Banda served as the president of Zambia, Africa’s top copper producer between 2008 and 2011.
| Posted: at | |
Omilim
TRENDING GISTS 
Actor Junior Pope to Be Buried on May 17th As Family Releases Funeral Arrangements
Aftermath Of Niger Prison Collapse That Allowed 119 Inmates To Escape Following Rainstorm
VIDEO: Groom Breaks Down In Tears As Bride Walks To Him On Wedding Day