Closure of Zuma account ‘designed to humiliate him’

THE Jacob Zuma-led uMkhonto weSizwe (MK) Party has raised questions over the timing of the closure of the former president’s bank account by FNB, saying Zuma will be directly affected as his presidential pension is paid into one of the accounts.

On December 16, Zuma announced that he would no longer campaign or vote for the ANC and instead would support the newly formed party.

He is number one on the list of candidates for the party.

It was reported on Sunday that the bank was closing his account, the same one into which the now defunct VBS Mutual Bank allegedly deposited a loan of R7.8 million to Zuma.

FNB said it was complying with an order of the High Court in KwaZulu-Natal.

“FNB is complying with a specific order by the High Court (KZN division). However, given client confidentiality, FNB cannot comment further on any client’s specific bank accounts and treats all customers objectively and consistently,” the bank said in a statement.

While it may be reportedly related to the VBS matter, this could not be confirmed yesterday.

MK Party spokesperson Nhlamulo Ndhlela claimed the “timing of the order was designed to humiliate Zuma”.

“The former president has repaid R3m of the loan (believed to be the VBS loan) and has complied with the terms of the repayment agreement, but this court order comes in the wake of him being a key member of the MK Party and they have gone ahead and closed his bank account.”

Ndhlela said Zuma’s lawyers were informed of the court order at the end of February.

He alleged that the “instruction came directly from the ANC which is using FNB as a political tool to deal with and humiliate Zuma”. The ANC yesterday did not respond to a request for comment.

Zuma was suspended by the National Executive Committee of the ANC earlier this year after he aligned with the MK Party.

The ANC had said that Zuma’s disciplinary process would take place after the elections.

During his December 16 announcement, Zuma said the ANC “knows I was never focused more on expelling members without implementing proper processes”.

“I have decided that I cannot and will not campaign for the ANC of Ramaphosa in 2024.

“My conscience will not allow me to lie to the people of South Africa,” Zuma had said.

Political analyst Professor Sipho Seepe said the timing of the closure of Zuma’s bank accounts “is quite serious and cannot be ignored”.