Holomisa asks court to suspend PIC boss Dan Matjila

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File: PIC's Dr Daniel Matjila speaks at the Africa Venture Capital Association (AVCA) 10th Annual Conference in Cape Town.

JOHANNESBURG – United Democratic Movement (UDM) leader Bantu Holomisa has filed court papers demanding finance minister Nhlanhla Nene immediately suspend PIC boss, Dan Matjila.

Holomisa claims Matjila asked a company in which the PIC had invested, to pay off his girlfriend’s R300,000 debt.

READ: State entities must sort house before receiving funds: PIC CEO

"We felt that we cannot leave this matter to lie down. As a result, last Friday we served him with papers as well as PIC. We are saying in that letter Mr Matjila should be suspended pending the inquiry," said Holomisa.

"We cannot allow the monies of the workers to be misused in this fashion. We want that fund to be secured and make sure whoever is going to issue the investment or bailout is done so in the correct manner, not in the way this gentleman has," he said.