Finance Minister Nhlanhla Nene says when former President Jacob Zuma told him of a new position he would occupy at the BRICS Bank’s African Regional Centre, it was a fabrication as Zuma had no authority to appoint someone into that position.
On Wednesday Nene gave testimony to the Commission of Inquiry into State Capture about developments in October 2015, when Zuma dismissed him after he refused to toe the line on projects such as the nuclear deal and the running of South African Airways.
Nene says appointing him to that position did not make sense, as he had already been a Governor of the BRICS Bank, a more senior position.
One of the most awaited testimonies at the inquiry probing state capture. Finance Minister spilled the beans on what transpired before his removal from the ministerial position.
Nene told the inquiry that at the 2015 BRICS Summit he was told to sign a nuclear deal. A deal which according to Nene would have had profound financial consequences for the country.
The minister revealed that the first phase of the nuclear deal would have cost the country at least R250 billion
with the final deal exceeding R1 trillion.
After his refusal, Nene told the inquiry that former President Zuma was not happy with his conduct on the issue.
He told the commission that the Energy department and then President chose to go ahead with the Nuclear Programme despite Treasury’s reservations on the matter
Nene says he also told Zuma that he would only consider the proposal if it followed the relevant evaluation process.
An act that saw losing favour from the then head of state.
The commission has since adjourned for the day. It is expected to resume next Wednesday.
