Question NW2175 to the President of the Republic
16 November 2016 - NW2175
Gqada, Ms T to ask the President of the Republic
(1)Whether (a) he and/or (b) his legal team held any meetings with the (i) Board and/or (ii) Chief Executive Officer of the Ingonyama Trust since 27 June 2016; if not, what is the position in this regard; if so, what were the (aa) reasons for and (bb) content of each such meeting; (2) whether (a) he and/or (b) his legal team held any meetings with the (i) Board, (ii) Chief Executive Officer and/or (iii) Chief Operating Officer of the VBS Mutual Bank since 27 June 2016; if not, what is the position in this regard; if so, what are the relevant details of each such meeting held?
Reply:
I obtained a loan from VBS Mutual Bank and met the obligation of paying R7 814 1550.00 as ordered by the Constitutional Court of South Africa, in respect of the security upgrades at my private residence in Nkandla. The banker-client relationship is governed by the private law of contract. In this regard, we should all abide by the letter of the law and not interfere with this contractual relationship as enshrined in legislation passed by our parliament.