Jacob Zuma’s FNB Account Frozen Because of Defaulted VBS Mutual Loan

• Liquidator Anoosh Rooplal instructed FNB to freeze former President Jacob Zuma's accounts
• This action was taken due to the former president's continued default on the loan he had taken from the now-defunct VBS Mutual Bank
• South Africans questioned the necessity of freezing his accounts merely because he defaulted on payments

Tebogo Mokwena, a Briefly News current affairs journalist in Johannesburg, South Africa, has covered policy changes, the State of the Nation Address, politician-related news and elections at Daily Sun and Vutivi Business News for over seven years. Do you have a hard news story you would like to share? Email tebogo.mokwena@briefly.co.za with CA in the subject line.

JOHANNESBURG – Jacob Zuma's FNB account was frozen thanks to an order obtained by VBS Mutual Bank liquidator Anoosh Rooplal. This was because Zuma defaulted on paying the loan he took from the defunct bank.

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Zuma defaulted on the loan payment

According to TimesLIVE, Rooplal allegedly tried to get money from Zuma since he was appointed to liquidate VBS Mutual Bank in 2018. A court battle between Rooplal and Zuma ensued, and in 2022, he was granted an order to attach Zuma's assets to recover the money he owed the bank.

Zuma took the loan in 2016 after the Constitutional Court ruled that he should pay back the millions in state money he spent in upgrading his Nkandla homestead. He owes a total of R246 million.

South Africans stunned by the bank order

Netizens weighed in on Facebook and questioned why Zuma's account was frozen because of the debt.

Derrick Sipho said:

“Most of us have defaulted on payments since Cyril became president. So, there is nothing strange with Zuma defaulting. The only strange thing is that they’ve never closed our accounts, so why are they closing Zuma’s accounts?”

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Jay Pee De Kock said:

“The media and judges of Cyril Ramaphosa are obsessed with Zuma.”

Mthobisi Ngcobo said:

“I’m moving out of FNB. This bank is biased.”

Bring Back Mzansi Now said:

“So all people that default on their loans get their accounts with other banks frozen?”

Mbatha Themba Mthiya said:

“This is a political fight.”

Jacob Zuma's case against Billy Downer dismissed

In a similar article, Briefly News reported that Jacob Zuma's case against advocate Billy Downer was dismissed again.

Zuma took Downer to court to prevent him from being part of the team of prosecutors for his arms deal corruption trial.

South Africans laughed at the verdict and predicted that he would appeal again.

Source: Briefly News