Former Public Investment Corporation (PIC) CEO, Dr Dan Matjila has denied receiving R5 million cash from VBS in return for facilitating funding for the now defunct mutual bank.

The claim was made in the Great Bank Heist report compiled on the looting that led to the collapse of the bank.

Advocate Terry Motau was the main author of the investigation, commissioned by the Prudential Authority of the Reserve Bank.

Motau said that he could not make any “definitive finding” whether the R5 million was paid to Matjila.

Matjila says the claim of the R5 million payment was made up by two VBS executives. He says he welcomes a further investigation as Motau recommended.

Despite the PIC having seconded employees, Paul Magula and Ernest Nesane, as board members to VBS, Vele Investment became a major shareholder without the PIC’s knowledge.

Matjila says by the time he left, the PIC had started setting up an investigation into employees’s role in the VBS collapse.

Matjila denies discussing or agreeing to an origination fee to be paid to Kholofelo Maponya of Matome Maponya Investments in the SA Homeloans transaction.

Maponya allegedly demanded R95 million if the PIC were to grant SA Homeloans’s application for credit facilities.

He claimed R45 million for facilitating the initial R9 billion was already granted and R50 million would be a percentage of the R10 billion requested by SA Homeloans.

Matjila will continue giving testimony next week. He’s expected to deal with issues involving the Sekunjalo group companies, including Ayo Technology, Sargamatha and Independent Media.