President Cyril Ramaphosa File photo

Cape Town - The Democratic Alliance is considering legal action against President Cyril Ramaphosa following reports that he may have known about the alleged corruption at VBS Mutual Bank, DA leader Mmusi Maimane said on Sunday.

"Reports today [Sunday] that President Cyril Ramaphosa had prior knowledge of grand corruption and looting at VBS as far back as the beginning of last year and failed to act are incredibly serious allegations and need to be answered by the president with haste," Maimane said.

He would therefore submit an urgent question to be asked during oral questions to the president in Parliament on Thursday "to confirm the veracity of these allegations".

"Our lawyers are also considering charges against the president in accordance with the Prevention of Organised Crime Act (Poca). The president was allegedly made aware of bank executives’ involvement in the wholesale graft and plunder at VBS during a meeting in Johannesburg in early 2017. 

"A shareholder at VBS reportedly met with then deputy president Ramaphosa, informed him of the corruption at VBS, and Ramaphosa committed to intervene," Maimane said.

While Ramaphosa’s spokesperson Khusela Diko had denied this meeting ever occurred, the president would be wise to use his final oral questions session for the year next week to play open cards with the people of South Africa, he said.

* Read more on the #VBSBankHeist here.

African News Agency/ANA