EFF CONDEMNS THE SOUTH AFRICAN RESERVE BANK FOR GRANTING CYRIL RAMAPHOSA AN EXTENSION TO RESPOND ON PHALA PHALA FARM
Thursday, 08 September 2022
The Economic Freedom Fighters (EFF) condemns in the strongest terms, the patently corrupt decision by the South African Reserve Bank (SARB) to grant yet another extension for Cyril Ramaphosa to respond to the questions posed to him regarding Phala Phala Farm.
The Reserve Bank has now confirmed that they are complicit in the cover-up of Phala Phala Farm, by granting an unjustifiable extension to an individual who is determined to avoid accountability.
It is absolutely ridiculous that Ramaphosa has not accounted for the origins and underlying transactions of the millions of US Dollars at Phala Phala Farm to the Reserve Bank, after being afforded 79-days to do so.
Ramaphosa has now been granted two extensions, after failing to respond within the initial 21-days he was granted from the 20th of June 2022. He failed to respond when he was granted a 15-day extension, and proceeded to provide an inadequate response which lacked detail to the Reserve Bank, further delaying the process for weeks. Afterwards, the Reserve Bank demanded details and gave him a deadline of the 08th of September 2022, a deadline he has failed to adhere to.
It is evidently clear that Ramaphosa has no intention to account for his criminality at Phala Phala Farm, and has effectively not responded to the Parliament of South Africa, the Reserve Bank and has co-opted the Office of the Public Protector not to release the Phala Phala Report, which is 90-days overdue to be released.
The Reserve Bank's decision is misguided, compromised and is reflective of an institution that has no commitment to its responsibilities as a regulator of foreign currency. Ramaphosa did not declare the foreign currency to the Reserve Bank, and this is clear because they still seek to establish the origins of the money and underlying transactions of it.
On this basis, the Reserve Bank ought to assist the National Prosecuting Authority (NPA) with its investigation and declare that it has no knowledge of any foreign currency which was kept on Phala Phala Farm, and that Ramaphosa refuses to cooperate with its investigation.
An extension in the face of Ramaphosa's blatant refusal to account is unjustifiable, nonsensical and represents a capture of the institution. The EFF warned the people of South Africa that there is a deliberate attempt at covering up the crimes which occurred at Phala Phala Farm.
The Reserve Bank, Parliament, South African Police Services (SAPS) and the Office of the Public Protector led by the compromised Kholeka Gcaleka, have exhibited the attempts at a cover up.
The EFF will intensify the calls for accountability regarding Phala Phala Farm, and we are certain that Ramaphosa is guilty of the crimes of money laundering, kidnapping, torture and concealment of a crime through the use of state resources.
The continued attempts at giving him more time to concoct lies and delay his inevitable removal are futile, because we will ensure that the truth is revealed and that Ramaphosa leaves the office of the Presidency exposed and disgraced
Statement issued by the EFF, 8 September 2022
