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EFF to address VBS fraud claims next week, ANC calls for heads to roll

The party has been thrust into the spotlight since it emerged that the brother of its deputy chairperson, Floyd Shivambu, received R16 million from the embattled bank.

EFF leader Julius Malema. Picture: @EFFSouthAfrica/Twitter

JOHANNESBURG – Amid concerns that the Economic Freedom Fighters (EFF) has remained silent on allegations that it benefitted money from the VBS scandal, the party has just released a statement saying it will address a media briefing only next week.

The party has been thrust into the spotlight since it emerged that the brother of its deputy chairperson Floyd Shivambu received R16 million from the embattled bank.

The EFF has not directly commented on that aspect of the report.

The African National Congress (ANC) has also responded, calling for heads to roll.

At least two party officials from Limpopo have been implicated in the report.

The ANC's Pule Mabe: "The ANC-led government championed and led the process towards the establishment of the prudential authority with the South African Reserve Bank, which is now expected to act decisively and with the necessary speed to process recommendations from this report. The manner is which authorities processed this report will be an important indication of our nations' commitment to the renewal and ethical leadership."

At the same time, the South African Transport and Allied Workers Union (Satawu) says its shocked that some of its officials are implicated in the VBS Bank fraud scandal.

On Wednesday, the South African Reserve Bank released a report titled The Great Bank Heist which goes into details about how R1.8 billion was looted from the bank.

Included in the report is testimony from VBS general manager of treasury, Phophi Mukhodobwane, who testified that a bribe of R1.5 million was paid to a group of union officials from Satawu who had claimed to be able to facilitate a R1 billion deposit from Prasa.

The report states that the money was paid to the Satawu officials through a front.

(Edited by Leeto M Khoza)

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