Action to be taken against ANC officials implicated in VBS report

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

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....

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