Statement of The Presidency on VBS
15 October 2018
The Presidency categorically rejects reports that President Cyril Ramaphosa failed to take action on the VBS Bank saga despite being alerted to irregularities back in 2017.
The allegation is baseless and unsubstantiated.
President Ramaphosa has no knowledge of any meeting where he is said to have met any person associated with VBS Mutual Bank where he was purportedly briefed on the matter.
Likewise, the claim that President Ramaphosa was forewarned about the impending implosion of VBS Bank is unsubstantiated.