IFP: 'Suspend Ithala CEO over ANC donation'

2009-11-03 00:00

THE Inkatha Freedom Party has called for Ithala Bank chief executive officer Sipho Shabalala to be suspended immediately and investigated for allegedly soliciting a R1 million donation for the African National Congress.

Tabling a motion in a provincial legislature special sitting yesterday, IFP member Lionel Mtshali said Shabalala should have been the one to resign, not Ithala Bank board chairman, Nhlanhla Manana.

Mtshali said the bank is writing off tens of millions of rands in irrecoverable loans due to the lack of implementing lending rules.

He called for an investigation into Shabalala without political interference.

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