The Citizen (KZN)

Court orders partial freeze on Zuma’s accounts

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A bank said on Wednesday a court had ordered a halt to outgoing payments from ex-president Jacob Zuma’s accounts in a dispute over loans for improvemen­ts to his private home while he was in power.

First National Bank (FNB) said the measure was the result of legal action taken by the liquidator­s of another bank, which is owed money by the 81-year-old politician.

“FNB was instructed by the high court to place a hold on outgoing payments from former president Zuma’s FNB accounts. The accounts are not closed as incoming payments are unaffected,” FNB said.

“This instructio­n from the court results from the process currently being managed by the VBS Bank liquidator­s and FNB was legally required to comply. Former president Zuma’s recourse now lies with the courts and VBS liquidator­s.”

The measure is likely to further taint the reputation of graft-accused Zuma ahead of general elections on 29 May.

In power from 2009 to 2018, Zuma is fronting a small startup party that is threatenin­g to take away key votes from his old home, the ANC.

The partial account freeze is related to the decade-old, controvers­ial renovation of Zuma’s massive homestead in his home province of KwaZulu-Natal.

In 2016, a top court found that the then-president had acted against the constituti­on by using billions of rands of state funds to refurbish his rural Nkandla home in the name of “security upgrades”.

Some of the features included a chicken coop and a swimming pool, alleged to be a fire-fighting facility – coined a “fire pool” – a cattle enclosure and an amphitheat­re.

Ordered to pay back the money, Zuma took out a R7.8 million loan from VBS.

The bank was later placed under curatorshi­p.

Its liquidator­s have gone to court to force Zuma to pay back the outstandin­g part of the loan.

 ?? Picture: AFP ?? COURT ORDERED.A bank asked for a hold on former president Jacob Zuma outgoing payments – and a court agreed.
Picture: AFP COURT ORDERED.A bank asked for a hold on former president Jacob Zuma outgoing payments – and a court agreed.

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