It's alleged that Public Investment Corporation (PIC) chief Dan Matjila is prepared to step down if he receives a golden handshake.
According to reports in the Mail & Guardian, embattled Matjila has told senior ANC and government leaders he wants to ask his board to consider a payout deal.
Matjila has previously been accused of channelling PIC funds meant for corporate social investment to finance his girlfriend's personal project.
UDM leader Bantu Holomisa says his party will oppose in court if the board recommends a golden handshake for the PIC boss.
Public Investment Corporation investigation: Dan Matjila should stay around to face the music. We want to hear who was pulling the puppet strings to raid #PIC. Who got the money and what scheming was used to get... https://t.co/3kArkyWTMu— Bantu Holomisa (@BantuHolomisa) September 28, 2018
In May, Holomisa wrote to Finance Minister Nhlanhla Nene requesting him to suspend Matjila and for the allegations to be investigated.
In August, President Cyril Ramaphosa announced a commission of inquiry into the alleged improprieties at the PIC.
Holomisa says the inquiry must probe the conflicts of interest and looting at the state-owned fund manager.
The UDM leader says he has handed over evidence to Ramaphosa and wants Matjila and the rest to face the music.
The terms of reference must include the transactions which were approved by Dan Matjila and his management during his tenure.— Bantu Holomisa, UDM leader
They must start singing. The sooner they collect their memory, the better. We are going to nail them down.— Bantu Holomisa, UDM leader
Read the UDM leader's full statement here.
Listen to Bantu Holomisa in conversation with Xolani Gwala:
This article first appeared on CapeTalk : Holomisa vows to 'nail down' PIC looters amid reports Matjila wants a payout