High court sources said Mpinganjira will spend a night at Blantyre Police station before bail application will be made for his release, a normal process which the Anti-Corruption Bureau (ACB) wants to be fulfilled in keeping with the rule of law.
Mpinganjira, the first Malawian to own a bank or financial institution is the group CEO of FDH Financial Holdings, which owns FDH Bank.
He is being accused for attempting to bribe high court judges who on February 3 will deliver a ruling on the highly contentious presidential election case in which opposition parties UTM and MCP petitioned the court to null the presidential vote of May 21.
MEC declared President Arthur Peter Mutharika winner of the vote, after he bagged 159,000 votes against second best candidate Lazarus Chakwera of MCP and UTM’s Saulos Chilima who came third.
The two claimed MEC had rigged the vote in favour of Mutharika and that irregularities they cited were enough evidence to declare the vote null and void.
The petitioners are hoping the courts will order a fresh poll, while Mutharika has often insisted he won the poll with clean hands.
The period since the case begun on August 8 has been characterized by ugly demonstrations organized by HRDC who demanded that MEC Chairperson Justice Jane Ansah should resign for mismanaging the poll.
The 2019 vote was the sixth since Malawi embraced democracy in 1994 after three decades of MCP‘s dictatorship.
The verdict will be pronounced on February 3 at the high court in Lilongwe.