Shivambu denies VBS connection, says EFF is the target of a banking conspiracy

The Deputy President of the Economic Freedom Fighters (EFF), Floyd Shivambu, has denied rumours that he benefited from the looting of VBS Mutual Bank.

The EFF held a media briefing on Tuesday to dispel the allegations levelled against Shivambu and his complicity in the “The Great Bank Heist”. The conference was spearheaded by party leader Julius Malema who was flanked by advocate Dali Mpofu and Shivambu.

The EFF is firmly behind Floyd Shivambu, says Julius Malema

Malema opened his address by stating that the party was fully supportive of Shivambu, noting that no concrete evidence had been tabled against the Deputy President. Malema did, however, say that those found to have benefitted illegally from the VBS scandal should be prosecuted.

Shivambu was implicated in the VBS saga through familial relations, when it was revealed by advocate Terry Motau that Brian Shivambu, Floyd’s brother, had allegedly received R16 million during the looting spree. Investigative journalists then reported that Shivambu had received a R10 million pay-out from his brother Brain, who has also denied any illicit activity relating to the VBS scandal.

During the media briefing, Malema described the media-made association between the EFF and the VBS scandal as a modern-day witch-hunt, saying:

“We note the release of the VBS Mutual Bank report and express great disgust at those who have facilitated the collapse of the bank for selfish and self-enrichment purposes, at the expense of the poor.

However, we reject the witch-hunt and mob justice that seeks to declare people guilty through courts of public opinion. The law must take its course and all who are implicated must fully cooperate with law enforcement institutions.

The EFF has also not been mentioned in the report, neither has it been accused of any wrongdoing.

The Deputy-President of the EFF – Floyd Shivambu – has taken the EFF leadership into confidence in relation to VBS media claims and we have no reason to doubt him, more so because he is not mentioned in the official Motau VBS report.”

Shivambu says the EFF is being targeted by the banking system

Shivambu, who has maintained his innocence throughout the unfolding scandal, claims to have exposed all his financial reports to the EFF, which prove to abdicate him of any nefarious dealings. Shivambu urged anybody with factual information relating to individuals or companies involved in the looting of VBS to approach law enforcement agencies with evidence, saying:

“We have constantly said those who did wrong in VBS must be held accountable.

I have exposed all the information I have to the leadership, there has never been any R10 million deposited into my account. Even if you aren’t acting as a journalist, then as a patriotic citizen, go to the police station and give them the evidence.”

Shivambu argued that Motau’s report, and the subsequent suspicion which fell on the EFF, were all carefully manufactured by the African National Congress (ANC) government, saying:

“We know why this is happening; because we have introduced the Banks Amendment Bill, Reserve Bank Amendment Bill and the Tax Avoidance Bill and all of these deal with the banking systems in South Africa.

We had raised concerns in terms of the scope of intervention of the Reserve Bank and the PIC with the African Bank. So, when the intension that VBS would be place under curatorship, we requested that the interventions must come with recapitalisation.”