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Giyani Municipality fires its CFO over VBS scandal

The municipality says it also found Hitler Maluleke paid service providers for work that hasn't been done.

VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

JOHANNESBURG – The Giyani Local Municipality has confirmed its chief financial officer has been fired for allegedly authorising an investment of R161 million with VBS Mutual Bank.

The municipality says it also found Hitler Maluleke paid service providers for work that hasn't been done.

Almost R2 billion has gone missing with top Limpopo politicians, businessmen and the bank's executives listed in a Reserve Bank report released over a week ago as being responsible.

R1.2 billion of that money was deposited by eight Limpopo municipalities without any success of retrieving the funds.

Maluleke is the first person to be dismissed amid investigations into the looting of the bank.

Spokesperson Steven Mabunda says: “The Greater Giyani Municipality has dismissed the chief financial officer Hitler Maluleke with effect from 19 October.”

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