Nedbank denies wrongdoing in state capture contract

File: The logo of Nedbank.

File: A Nedbank ATM. eNCA

JOHANNESBURG - Nedbank has denied any wrongdoing following recommendations by the state capture inquiry that it investigate employees for their alleged role in a corrupt contract.

The contract involved the Airports Company SA and the Gupta-linked Regiments Capital.

WATCH: Unpacking Volume 2,3 of the State Capture report or State Capture report

The commission found that Nedbank and Standard Bank both had separate interest rate swap contracts with Acsa.

Those were negotiated via Regiments which earned millions by providing advisory services to Acsa for the contracts.

READ: Minerals Council SA calls state capture 'economic sabotage'

It recommended that law enforcement agencies investigate two Nedbank dealers involved in the contracts.

Nedbank said it is still busy with a comprehensive review of the commission’s findings but denies any wrongdoing.

Source
eNCA

Paid Content