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State capture inquiry: Nedbank CEO says he felt threatened by Zwane at meeting

Mike Brown is taking the inquiry through the events leading up to that meeting, and his response to the ANC top brass that we would not discuss any client related matters.

FILE: A screengrab fo Nedbank CEO Mike Brown appearing at the Zondo Commission on 19 September 2018.

JOHANNESBURG - Nedbank CEO Mike Brown has told the state capture inquiry he felt threatened by then Mineral Resources Minister Mosebenzi Zwane when he attended an inter-ministerial committee meeting to discuss the closure of Gupta-linked accounts.

Brown is taking the inquiry through the events leading up to that meeting, and his response to the African National Congress (ANC) top brass that we would not discuss any client related matters.

Brown says while he attended that controversial meeting at the ANC’s headquarters, Luthuli House, Zwane was not happy about the absence of the other major banks.

“He [Zwane] expressed dissatisfaction over some banks that refused to attend and stated that it’s concerning that banks could undermine the government by refusing to attend such a meeting. I certainly felt that was a veiled threat in terms of the powers of the inter-ministerial committee.”

On Tuesday, other bank officials told the inquiry that they were summoned by ANC officials to explain their reasons for closing the Gupta’s accounts.

Absa told the commission that it did not meet with the inter-ministerial committee, while FNB officials testified that they declined the invite.

WATCH: Nedbank CEO gives evidence at Zondo Commission

(Edited by Zamangwane Shange)

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