Trustees were accused of accepting bribes of between R40,000 and R25,000 each in 2019 to topple a company that was providing services as administrator of the CINPF in favour of a new service provider. File image.Akani Retirement Fund administrators will appeal a scathing judgment by the Johannesburg high court which found that the company bribed trustees of the Chemical Industries National Pension Fund .
The bribe was allegedly in exchange for booting out NBC Holdings, a company that had served as administrators of the CINPF for three decades, in favour of Akani without an open tender process.
The problem is the Regulator here.
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