Police confirm Magalasi arrested over Amaryllis Hotel cash withdrawals

Former MERA boss Collins Magalasi has been arrested by the Anti-Corruption Bureau (ACB) in connection with the controversial Amaryllis Hotel deal.

Magalasi : Arrested

National Police spokesperson Gladys Chiwawula confirmed the arrest, saying further details would be provided later.

Magalasi was picked around 5am today in Area 49, Lilongwe and is being kept at Lumbadzi police station.

The arrest comes amid ongoing investigations into the movement of billions of kwacha following the sale of the hotel, with scrutiny previously centred on K5.497 billion withdrawn in cash from the Yusuf Investments account at National Bank between January and March 2026.

According to information emerging from the investigation, Magalasi is alleged to have been involved in a K5 billion cash withdrawal operation, in which proxies reportedly withdrew the money from National Bank before handing it over to him.

The proxies are said to have been told the money was being taken to State House.

The allegations are serious, and questions over who authorised the withdrawals, who ultimately received the cash, and where the money went are now expected to form a central part of the ACB’s investigation.

The wider Amaryllis saga has already raised significant concerns over the handling of billions of kwacha from the hotel transaction, with parliamentary investigations also examining the suspicious cash withdrawals separately.