VBS scandal fallout

JOHANNESBURG - The ANC's national working committee will meet with the executive committee this week to discuss its integrity commission's recommendations on VBS bank.

The commission has recommended that party office-bearers implicated in the looting be told to step down.

The Reserve Bank report implicated the ANC's Limpopo deputy chairperson and Vhembe mayor Florence Radzilani, as well as provincial treasurer Danny Msiza.

READ: VBS scandal: ANC integrity commission wants implicated officials to step down

The nearly R2-billion looted included clients' life savings and deposits and millions of rand deposited by municipalities.

The report said the deposits were made in exchange for bribes.

VBS was placed under curatorship in March after it was found to be facing a liquidity crisis.

- Additional reporting ANA

Source
eNCA