ANC Limpopo to probe municipalities processes in depositing to VBS

ANC Limpopo spokesperson Phuti Seloba says the province will carry out its own forensic investigations into the looting of VBS Mutual Bank.

He says the investigations will trace the municipal funds and the processes involved when making deposits into VBS.

Seloba says the investigations should be completed in a month's time.

Findings of the probe will determine what action to take against those implicated, says Seloba.

Read: 'VBS stolen money bought the most useless things like Ferraris and helicopters'

At the moment we don't want to say anything that might jeopardise the quality of the investigations.

Phuti Seloba, ANC Limpopo spokesperson

The investigation is going smoothly. We have called all the affected municipalities and they are cooperating with the investigator and we are hoping that in a month's time we will be able to go to the party and say here are the findings and recommendations.

Phuti Seloba, ANC Limpopo spokesperson

We are committing ourselves to implement the recommendations to the latter and the harshest action will be taken.

Phuti Seloba, ANC Limpopo spokesperson

To hear the rest of the conversation with Phuti Seloba, listen below:


This article first appeared on 702 : ANC Limpopo to probe municipalities processes in depositing to VBS


Recommended

by NEWSROOM AI
Read More
'I hope the EFF leaders are listening, what's happening is dissapointing'

'I hope the EFF leaders are listening, what's happening is dissapointing'

Callers on The Eusebius McKaiser Show share their views on the scandal relating to VBS Mutual Bank.

'VBS stolen money bought the most useless things like Ferraris and helicopters'

'VBS stolen money bought the most useless things like Ferraris and helicopters'

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

The provincial executive committee was expected to meet on Thursday night.

Did Floyd Shivambu and the EFF benefit from the looting of VBS Mutual Bank?

Did Floyd Shivambu and the EFF benefit from the looting of VBS Mutual Bank?

The Money Show’s Bruce Whitfield interviews Business Day financial journalist Warren Thompson.

Action to be taken against ANC officials implicated in VBS report

Action to be taken against ANC officials implicated in VBS report

On Wednesday, the Reserve Bank released details of the R1.8 billion fraud and corruption at the bank.

Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank Governor, Lesetja Kganyago, says the forensic report will be handed to law enforcement authorities for prosecution.

'EFF should trade red overalls for orange ones'

'EFF should trade red overalls for orange ones'

Callers to the Eusebius McKaiser show weighed in on the VBS scandal.

R10 million siphoned from VBS to Floyd Shivambu's personal account

R10 million siphoned from VBS to Floyd Shivambu's personal account

Top ANC officials, along with senior EFF members are among those being fingered in the scandal relating to more than R1 billion being siphoned out of VBS Mutual Bank.

'VBS is being investigated and there is progress in that regard' - Hawks

'VBS is being investigated and there is progress in that regard' - Hawks

A report published by the SARB shows that close to R2 billion had been looted from the bank by over 50 individuals.

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

"VBS Mutual Bank — The Great Bank Heist". Bruce Whitfield interviews Intellidex Financial Analyst Stuart Theobald.

Popular articles
[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

Dr Eve discusses cervical cancer and how it can be prevented.

Angry customer stops at nothing to expose bad service at upmarket hotel

Angry customer stops at nothing to expose bad service at upmarket hotel

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

Motorist who killed two goslings has been identified

Motorist who killed two goslings has been identified

According to the SPCA, he will be charged with contravention of the Animal Protection Act.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

Group distances itself from N2 car spinners caught on film

Group distances itself from N2 car spinners caught on film

It turns out that the petrol heads who span cars on the N2 were part of the SA Torque Cape Town Breakfast Run.

Uber customer threatened with hockey stick by driver

Uber customer threatened with hockey stick by driver

An Uber customer shares how she was threatened by an Uber driver with a hockey stick after a disagreement.

SPCA to open case against impatient CT man seen driving over two goslings in CBD

SPCA to open case against impatient CT man seen driving over two goslings in CBD

A family of Egyptian geese were crossing the road at the corner of Spin Street and Adderley Street, when the man drove over them.