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Regiments' Eric Wood told associate that Nhlanhla Nene would be replaced by a 'more pliable' minister

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Eric Wood
Eric Wood

Former Regiments Capital founding partner, Eric Wood, knew about the December 2015 ouster of former finance minister Nhlanhla Nene, telling a colleague weeks ahead of the Cabinet reshuffle that his replacement would be someone "more pliable" who would approve the company's contracts, the commission of inquiry into state capture heard on Thursday.

The midnight firing of Nene on 9 December 2015 in a surprise reshuffle by former president Jacob Zuma sent shock waves through the financial markets and sent the rand tumbling.

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