Mahikeng Local Municipality in the North West has launched an urgent application to have VBS Mutual Bank liquidated.
The municipality hopes to recoup R84 million they invested in the bank.
Speaking to Joanne Joseph, Premier of the North West Job Mokgoro says through their provincial treasury they have conducted a forensic investigation which has been concluded.
I will be summoning municipal leaders of affected leader to ask very fundamental questions.— Job Mokgoro, Premier of the North West
Who did what? Who was instructed by who and why? So that we take the process forward.— Job Mokgoro, Premier of the North West
The forensic investigation has made it very clear that there was a lot of wrongdoing.— Job Mokgoro, Premier of the North West
Premier Mokgoro says the four municipalities deposited about R340 million into VBS and the amounts differ per municipality.
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