Kathmandu, Sept 18: Nepal’s political class is under intense scrutiny after massive amounts of cash and gold were reportedly found in the homes of top leaders during the recent Gen Z protests. Protesters allegedly found and then looted bundles of currency worth millions from the residences of Nepali Congress President and former Prime Minister Sher Bahadur Deuba, Ganga Dahal—daughter of CPN (Maoist Center) Chair and former Prime Minister Pushpa Kamal Dahal—and former minister Deepak Khadka. Videos of burnt banknotes, looted gold, and cash-filled rooms quickly went viral, fueling public anger.
The revelations have sparked demands for a full investigation into how such vast sums were privately stored by politicians without clear income sources. Under Nepal’s anti-money laundering laws, cash holdings exceeding one million rupees must be declared and traced to legitimate earnings. Failure to do so is a criminal offense under the Revenue Leakage Act.
Former officials argue the scale of money uncovered is too significant to ignore. A retired officer from the Department of Money Laundering Investigation (DMLI) said prosecuting a few high-profile leaders would demonstrate that Nepal is serious about financial governance and could improve its standing internationally. Nepal remains on the Financial Action Task Force (FATF) grey list, signaling inadequate controls against money laundering and terror financing. Analysts warn that inaction may harm Nepal’s global credibility and further isolate its financial system.
Ironically, Nepal’s financial system already requires that transactions above one million rupees be routed through banks and reported to the Financial Information Unit of the central bank. The discovery of undeclared millions at private residences suggests deliberate circumvention of these rules, raising suspicions of corruption and kickbacks.
For Gen Z activists, the incident has become a symbol of systemic impunity. Protesters and officials alike are urging the government to act swiftly. “The leaders must not be allowed to walk away again,” said one senior government official, calling for immediate legal action.
All eyes are now on agencies like the DMLI and the Department of Revenue Investigation. Their response will determine whether Nepal can convince its citizens—and the world—that it is ready to enforce the rule of law and hold even its most powerful figures accountable.
People’s News Monitoring Service
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