ANC dismisses VBS claims with ‘utter disgust’
The African National Congress (ANC) in Limpopo has dismissed claims that the party is trying to rescue the embattled VBS Mutual Bank from liquidation.
VBS was placed under curatorship earlier in the year, following allegations of mismanagement and fraud.
It is alleged the bank’s executives allegedly looted more than R1.5 billion.
According to reports, the provincial leadership held a meeting with the ANC's Top Six leaders on Monday to discuss the future of the bank.
The City Press claimed on Sunday that party’s Limpopo leadership recommended that the failed bank be converted into a Limpopo provincial government bank, run and operated by the Limpopo Economic Development Agency (Leda).
But the ANC in Limpopo's Khumbudzo Ntshavheni says the aim of the meeting with the ANC leadership was to report on the provinces’ recent general counsels.
"In which the provincial officials had to brief the national official what are the issues," says Ntshavheni.
Ntshavheni could disclose the details of the meeting, however, dismisses claims that the VBS matter was tabled at the meeting.
"We must dismiss it with utter disgust the fact that there are those trying to insinuate that the meeting was about VBS."
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