Limpopo’s Treasury Department has appointed a forensic team to investigate alleged irregularities against ten municipalities that invested with the troubled VBS Mutual Bank.
Human Settlements Minister Nomaindia Mfeketo, wants actions taken against the officials at a subsidiary of her department – the Community Schemes Ombud Service (CSOS) for investing millions of rand in the controversial VBS mutual bank.
The Executive Head for Legal Counsel, Governance and Compliance at the Public Investment Corporation (PIC), Ernest Nesane, has resigned.
The Democratic Alliance (DA) says it wants all executives of the embattled VBS Mutual Bank to be held criminally liable for their role in alleged looting of the bank’s coffers.
The Democratic Alliance (DA) says it welcomes the announcement that retail depositors at VBS will access their savings.