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Public Protector: Govt acted improperly over CIEX report

Eyewitness News logo Eyewitness News 2017-06-19 Barry Bateman
Public Protector Busisiwe Mkhwebane. © Kgothatso Mogale/EWN Public Protector Busisiwe Mkhwebane.

PRETORIA - The Public Protector has found that Absa bank and its predecessor Bankorp unduly benefited from a Reserve Bank bail out to the value of R1.125 billion and has ordered the Special Investigating Unit to recover the funds.

Advocate Busisiwe Mkhwebane made the announcement at a briefing in Pretoria on Monday where she revealed her findings in the so-called CIEX investigation.

The matter relates to funds misappropriated during the apartheid era and given as a lifeboat to Bankorp, which was later purchased by Absa bank.

Mkhwebane found the government failed to recover the funds.

Mkhwebane says the matter is being referred to the Special Investigating Unit.

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