Zimbabwe's cricket bosses Peter Chingoka and Ozias Bvute have been released by police after being questioned for two days.
Police were investigating exchange fraud but Zimbabwe Cricket said in a statement the pair would not be prosecuted.
Chingoka, the chairman of Zimbabwe Cricket, and Bvute, who is the Zimbabwe board's managing director, were accused of making "external payments on behalf of Zimbabwe Cricket without exchange control approval."
Chingoka had paid for cricket balls from Pakistan while Bvute had obtained vehicles outside Zimbabwe for onward sale in the country for the benefit of Zimbabwe Cricket.
The investigation is the latest wrangle to hit the troubled Zimbabwe board which is only just getting over the resignation of its captain Tatenda Taibu who has left the country to play cricket in Bangladesh.
Vice-chairman of the Zimbabwe board Ahmed Ebrahim has written to the Zimbabwe Sports Commission asking it to intervene and assist the body.
He has suggested a full forensic audit and the use of a committee to manage the daily running of Zimbabwe Cricket.
Ebrahim said a move to displace Chingoka at a recent emergency meeting did not gain the required support.