CIEX disputes Mboweni's version of Absa report

WEB_PHOTO_Tito_Mboweni_171213

Former SA Reserve Bank governor Tito Mboweni speaking at an event in 2008.

Former SA Reserve Bank governor Tito Mboweni speaking at an event in 2008.

WEB_PHOTO_Tito_Mboweni_171213

Former SA Reserve Bank governor Tito Mboweni speaking at an event in 2008.

Former SA Reserve Bank governor Tito Mboweni speaking at an event in 2008.

JOHANNESBURG - CIEX founder Michael Oatley rejected former Reserve Bank governor Tito Mboweni’s claims regarding the Bankorp probe.

Earlier this week, Mboweni shared his views in a Facebook post, following the Public Protector's findings that Absa should repay over a billion rand received as a bailout by its predecessor from the apartheid government. 

Mboweni said a special team of experts, which was previously hired to probe the matter, had not found it necessary to pursue it further.

READ: Panel of experts’ report ignored or too complex: Mboweni on PP’s Absa proposal 

But, the founder of  CIEX - a UK-based private investigations company - was disputing Mboweni's version.

Oatley said the findings of the team appointed by the Reserve Bank had in fact confirmed CIEX's version that the Bankorp loan was illegal.

The company had probed the matter between August 1997 and December 1999 on behalf of the South African government. 

READ: Public Protector wants to change Constitution on Reserve Bank

Oatley said it offered to help recover the funds after the investigation found that the fraud continued even after Absa came into being.

He said Mboweni - who was governor of the Reserve Bank at the time - had rejected their offer, saying the matter would not be pursued, despite having confirmed that CIEX was right.