CIEX chair defends company's reputation in claims surrounding PP's report

CIEX founder Michael Oatley clears the air with Xolani Gwala.

He has responded to what he describes as a 'disingenuous' Facebook post by former Reserve Bank governor Tito Mboweni regarding the Bankorp/Absa investigation.

Last week, Mboweni commented on the Public Protector's findings that Absa should repay over a billion rand received as a bailout.

In the post, Mboweni suggesting the African National Congress was approached by Oatley with documents showing that Absa was liable to pay back about R1.5billion with interest, and that in return, Oatley would receive 10% as a fee for helping retrieve the stolen monies.

He says a special team of experts was previously hired to probe the matter and it had been concluded.

Oatley says CIEX did a rather good job and that the attack on him and the company is unwarranted.

In fact, they didn't reject my offer. They employed me over a period of months in what was a very firm agreement which was in due course to be extended to other inquires apart from Absa.

Michael Oatley, CIEX founder

He refers to a suggestion of racial condescension which I think unpleasant. The suggestion is that he is dismissive about our work. The fact of the matter is, it was a highly professional forensic inquiry engaged by the government, working closely with government officials over a number of months.

Michael Oatley, CIEX founder

The results were presented at two meetings of cabinet ministers at which nobody questioned the value of what was being done, he adds.

I would like that impression to be more widely understood rather than people having a go at the Public Protector by suggesting that she was led by sloppy and prejudiced work by my firm.

Michael Oatley, CIEX founder

READ: A short history of the uncovering of the Absa/Bankorp ‘lifeboat’ scandal

ALSO READ: Absa: Public Protector has not explained her different findings to Davis panel

Oatley says Absa had agreed to pay the money over a period of four years.

The Board of Absa, according to information which we received from within the bank, expected Justice Heath to ask them to repay and they made provision to do within a four-year period.

Michael Oatley, CIEX founder

As for Judge Dennis Davis, Oatley has this to say:

I am not able to follow the application of his argument in this present day system and it is not my concern to suggest what should or shouldn't be done in following the Public Protector's report. My concern is simply to represent the reputation of my company and myself.

Michael Oatley, CIEX founder

Click on the link below to listen to the full audio....


This article first appeared on 702 : CIEX chair defends company's reputation in claims surrounding PP's report


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