Action to be taken against ANC officials implicated in VBS report

The African National Congress (ANC) says it will act swiftly against party officials who have been implicated in the VBS Mutual Bank 'heist' report.

On Wednesday, the Reserve Bank released details of the R1.8 billion fraud and corruption at the bank.

READ: Reserve Bank denies any regulatory supervisory failures in the VBS saga

Over 50 individuals have been implicated, including the deputy chairperson of the ANC in Limpopo Florence Radzilani, who allegedly invested R300 million from the Vhembe District Municipality in the embattled bank and in turn received bribes.

Provincial treasurer Danny Msiza has also been identified in the report as a kingpin who made sure municipalities made illegal deposits with the bank.

ALSO READ:R10 million siphoned from VBS to Floyd Shivambu's personal account

The ANC’s head of elections Fikile Mbalula has told media that the party will act decisively.

Eyewitness News reporter Clement Manyathela has more details on the ANC's reaction.

They're promising that the two leaders in Limpopo that are involved, they will make sure that they answer how they are implicated in all of this.

Clement Manyathela, Eyewitness News

Manyathela says a Limpopo ANC executive committee meeting is expected to be held later on Thursday evening.

We expecting that there will be a decision sometime later this evening around whether they remain in office, are they going to be fired or are they going to resign?

Clement Manyathela, Eyewitness News

Click on the link below to listen to the full report....


Recommended

by NEWSROOM AI
Read More
Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank Governor, Lesetja Kganyago, says the forensic report will be handed to law enforcement authorities for prosecution.

'EFF should trade red overalls for orange ones'

'EFF should trade red overalls for orange ones'

Callers to the Eusebius McKaiser show weighed in on the VBS scandal.

R10 million siphoned from VBS to Floyd Shivambu's personal account

R10 million siphoned from VBS to Floyd Shivambu's personal account

Top ANC officials, along with senior EFF members are among those being fingered in the scandal relating to more than R1 billion being siphoned out of VBS Mutual Bank.

'VBS is being investigated and there is progress in that regard' - Hawks

'VBS is being investigated and there is progress in that regard' - Hawks

A report published by the SARB shows that close to R2 billion had been looted from the bank by over 50 individuals.

 VBS Mutual Bank 'heist' report recommends criminal charges

VBS Mutual Bank 'heist' report recommends criminal charges

The report was released to the public on Wednesday, implicating VBS directors and executives who pocketed millions.

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

"VBS Mutual Bank — The Great Bank Heist". Bruce Whitfield interviews Intellidex Financial Analyst Stuart Theobald.

The missing R80 million from Community Schemes Ombud Service is with VBS bank

The missing R80 million from Community Schemes Ombud Service is with VBS bank

The bank is currently under curatorship which means the money cannot be accessed.

VBS Bank reports are very mischievous and misleading - ANC Limpopo

VBS Bank reports are very mischievous and misleading - ANC Limpopo

ANC Limpopo responds to questions raised around it reviving VBS Bank.

Nedbank take over VBS clients

Nedbank take over VBS clients

Hundreds of VBS bank customers have retrieved their money from Nedbank branches across the country.

Popular articles
Adriaan Basson the second journalist to lay a charge against an EFF member

Adriaan Basson the second journalist to lay a charge against an EFF member

Earlier on Friday, Karima Brown laid a charge of intimidation against a party member who sent her what she says is a threatening text.

'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

So-called 'designer vaginas' are created through various surgical or non-surgical procedures, explains clinical sexologist Dr Eve.

'Shutdown of Ndalo Media is no surprise and is a blow to media diversity'

'Shutdown of Ndalo Media is no surprise and is a blow to media diversity'

The company will reportedly shut its doors in January 2019.

'Cyril is the most popular president since Nelson Mandela'

'Cyril is the most popular president since Nelson Mandela'

Author Max de Preez weighs in on where SA would be if Jacob Zuma was still president and the impact of Ramaphosa now.

Here is what to do if you're affected by driving licence backlog

Here is what to do if you're affected by driving licence backlog

The WC Traffic Department has made provisions to cater for motorists affected by the backlog with the issuing of driving licences.

Gigaba and Dlamini make ANC KZN provincial nominee list

Gigaba and Dlamini make ANC KZN provincial nominee list

EWN reporter Ziyanda Ngcobo says Malusi Gigaba and Bathabile Dlamini have made the provincial nominee list for the ANC KZN.

[WATCH] Internet search for talented singer Nosipho is over...she's been found!

[WATCH] Internet search for talented singer Nosipho is over...she's been found!

Khabazela shares tweets and Facebook posts that have gone viral.