'Heads must roll' over VBS bank looting – ANC

2018-10-15 22:25

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The ANC's national working committee (NWC) has called on law enforcement agencies to "work speedily and with precision" to pursue those who benefitted from the looting of VBS Mutual Bank.

Last week, a final investigation report into allegations of corruption at the bank was released.

The report, compiled by advocate Terry Motau of the South African Reserve Bank, recommended that more than 50 individuals be criminally charged and held liable in civil proceedings.

"Earlier today [Monday], national officials met with the officials of Limpopo to discuss the response of the province to the serious allegations raised in the report and to further notify them of the immediate steps that the organisation will be undertaking," ANC secretary general Ace Magashule said in a statement.

"The ANC NWC echoed the same sentiments with the ANC leadership of Limpopo that where there [has] been wrongdoing by individuals and institutions, heads must roll, and the law must take its cause without fear or favour."

These comments come after ANC officials in Limpopo met to explain how municipalities illegally invested millions of rands with VBS Mutual Bank under their watch.

Magashule said that the report had been referred to the party's integrity commission for it to deal with members implicated in the matter.

"The manner in which authorities process this report will be an important indication on our nation's commitment to renewal and ethical leadership."

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