No missing millions, says Cricket SA official

2011-12-02 13:19

There are no missing millions in the Cricket SA coffers, a Cricket SA official told a ministerial inquiry today.

Nassei Appiah, Cricket SA chief financial officer, said in Pretoria that R68 million had not gone missing, as previously alleged by former Cricket SA president Mtutuzeli Nyoka.

The money was held as running costs for the 2009 Indian Premier League, which was hosted by Cricket SA.

“Funds had been transferred from the Board of Control for Cricket in India, both from India and income that they had generated locally, which was around R425 million,” Appiah said.

“Cricket SA had incurred expenditure on behalf of the Board of Control for Cricket in India, including the hosting fees of about R435 million.

“So the balance sheets reflected an asset of an amount due from the Board of Control for Cricket in India of R10 million.

“We have a balance sheet for 2009 and 2010, with 2009 showing a liability of R74 million and 2010 showing an asset of R10 million.

“Someone (Nyoka) took the difference between the two and alleged that the movement was missing funds.”
Appiah said Nyoka made assumptions that were false.

“If you had to recompute the movement in the two years, you actually had to add the two because one was an asset and one was a liability,” he said.

“So the movement was actually R84 million, not R64 million as stated in the records.

“It eventually became R68 million and there is nothing correct about those assumptions.”

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