[WATCH LIVE] PIC internal audit dept head gives evidence at inquiry

Head of internal audit Lufuno Nemagovhani is on the stand on the third day of the commission into allegations of impropriety at the corporation.

A screengrab of PIC head of internal audit Lufuno Nemagovhani giving evidence at the PIC inquiry on 23 January 2019.

JOHANNESBURG – The internal audit department is next to be probed by the commission of inquiry into the Public Investment Corporation (PIC).

Head of internal audit Lufuno Nemagovhani is on the stand on the third day of the commission into allegations of impropriety at the corporation.

On Tuesday, proceedings got off to an abrupt start when chief evidence leader Jannie Lubbe informed the commission of the suspension of the head of listed investments Fidelis Madavo.

Nemagovhani is the last witness to take the stand at the commission this week covering the internal auditing department.

His testimony is expected to shed more light on the transactions at the PIC that may have happened under his watch.

Last year, he was invited to provide evidence at the Pretoria Magistrates Court in the corruption case against the corporation’s leadership.

Nemagovhani is also the official who wrote the final audit report that cleared former PIC CEO Dan Matjila of any wrong-doing in a 2017 internal investigation.

It will be seen whether Negovhani will give any insight on previous investment decisions at the corporation that may have been compromised such as Steinhoff and Ayo Technologies.

WATCH: PIC internal audit dept gives evidence at inquiry