Economic Freedom Fighters(EFF) Deputy President Floyd Shivambu has dismissed reports of receiving R10-million from VBS Mutual Bank as insane.

The party was addressing the media on the matter following a report that linked Shivambu’s brother Brian to losses amounting to about R2 billion at VBS through alleged looting.

The report revealed that Brian Shivambu received R16-million from VBS, R10 million of which is alleged to have been sent to Floyd Shivambu’s account.

Shivambu says these reports are part of a wider plan to undermine the EFF.

He says no money was transferred into his account. “It’s pure insanity, it’s madness,” says Shivambu.

“The bank that I bank with would have called me if I received R10 million. It’s part of the agenda of the establishment that seeks to undermine the efforts that we are putting. We never took any money from VBS and anyone who thinks that we did so is mad.”

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