Johannesburg - EFF leader Julius Malema says the party stands by its deputy president Floyd Shivambu amid allegations that he pocketed funds illegally paid from the Venda Building Society (VBS).
Malema said Shivambu had taken the leadership of the party into his confidence on the VBS matter and they had no reason not to believe him.
“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,” said Malema.
The VBS report was released on Wednesday and detailed how R1.89 billion from the bank was illegally received by 53 people between 2015 and 2018.
Various politically connected individuals have been listed as benefactors of the illegal payments which left thousands of the bank's customers destitute a few months ago.