Chingoka was questioned by police on Tuesday

They were released after being held for two days and a statement from ZC said they would not be prosecuted.

Players Vusimusi Sibanda and Waddington Mwayenga and the team manager Babu Meman were arrested on Saturday.

But they were released 48 hours later after questioning about their foreign currency earnings from match fees.

The ZC statement said Chingoka and managing director Bvute had been accused of making "external payments on behalf of ZC without exchange control approval.

"In the case of the chairman, it was for payment of cricket balls from Pakistan for the organisation.

"For the managing director it was for the procurement of vehicles outside the country for onward sale in Zimbabwe for the benefit of ZC."

Zimbabwean cricket has been rocked by squabbles of late with ZC board members accusing Chingoka and Bvute of mismanagement, charges which the duo deny.

The most talented of Zimbabwe's younger players, Tatenda Taibu, recently quit his post as captain, saying he was unhappy with the duo.

Vice-chairman Ahmed Ebrahim said on Wednesday that he and other members will be asking the government to step in.

"I have written a letter to the Sports Commission seeking their intervention and assistance," Ebrahim said.

"I've highlighted resolutions which should be put in place, such as a full forensic audit a committee to manage the daily running of the institution."