DA says it will report EFF MP Floyd Shivambu to Parliament’s ethics committee after claims that he might have benefited from VBS Mutual bank heist. File picture: Henk Kruger/African News Agency (ANA)

Johannesburg - The Democratic Alliance says it will report EFF MP Floyd Shivambu to Parliament’s ethics committee following allegations that he might have benefited from VBS Mutual bank heist, which saw R1.9 billion looted from it.

The Reserve Bank last week released Advocate Terry Motau's report which implicated 53 people and companies in fraud and corruption worth nearly R2 billion.

Floyd is alleged to have received R10 million from his brother, Brian Shivambu who is implicated in the scandal, as one of the R1.9 billion beneficiaries.

DA MP Phumzile Van Damme said: “If Shivambu did indeed receive payments from VBS,  they are in contravention of Members’ Code of Conduct as there is no indication that he declared these monies in the 2015-2017 Declaration of Members Interest and Payments in Parliament”. 

Floyd has, however, denied receiving the money, and labelled the allegations as “disingenuous and patently weak”. 

“Shivambu has called the allegations “weapons of mass deception and propaganda machines”. The DA, therefore, challenges Shivambu to also undergo a lifestyle audit. Surely if he has nothing to hide, he will be transparent and do the right thing,” said Van Damme. 

This will not be the first time Floyd has to face the ethics committee. In April, Parliament has referred EFF deputy president Floyd Shivambu to the joint committee on ethics and members’ interests for assaulting a journalist on its premises.

* Read more on the #VBSBankHeist here.

Political Bureau