Staff Reporter.
The State Capture Inquiry is nearing the end of its hearings now.
On Thursday, Deputy Chief Justice Raymond Zondo will hear, more evidence from former Transnet finance boss, Anoj Singh and later in the afternoon, Malusi Gigaba is back in the hot seat, to wrap up some of his testimony, too.
Singh said that he did not participate in the proceedings of the South African Institute of Chartered Accountants (Saica) when he was charged with negligence because his lawyers advised him not to participate.
Saica stripped Singh of his membership of the professional body after he was found guilty on 12 of 18 charges, including dishonesty and gross negligence.
One of the transactions was the 1,064 locomotives tender that ballooned from R39 billion to R54 billion and was approved by the board without ministerial consent.
Executives, including Singh and former CEO, Brian Molefe, dismissed it as unforeseen currency fluctuations.
But Saica said that Singh ought to have made provision for that escalation as a CFO.
The sanction that was imposed was that you were excluded from membership of Saica, correct? I wanted to ask you, why is that you didn’t participate in these proceedings?” evidence leader Advocate Anton Myburgh asked Singh.
Livestream Video Below:
Video Courtesy of ENCA.