#PICInquiry: Matjila tears into Paul Magula | IOL Business Report

Former Public Investment Corporation chief executive Dr Dan Matjila tore into the asset manager's former head of risk and compliance, Paul Magula yesterday, stopping short of naming Magula as the ringleader of a vicious smear campaign against him.

The behaviour of Magula after VBS Mutual Bank extended a loan to former president Jacob Zuma was “a very arrogant one”, according to Matjila. Zuma had sought the loan to pay for his non-security upgrades at Nkandla as ordered by former public protector Thuli Madonsela. “In my opinion he took advantage of her excellent work ethic to overload her with work that he should have done.”

“I had to come back from holiday for a meeting with the board of Magae Makhaya to get an explanation on the finances of the company, of which a comprehensive business plan was required to be provided by it, as well as a reconciliation of management fees paid to date. Neither the business plan nor the reconciliation were ever provided,” Matjila said.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

#PICInquiry: New Age was eating governments advertising budget - Matjila | IOL Business ReportThe New Age newspaper contributed to the downward trajectory plaguing the industry as it ate into the government's advertising budget.
Source: IOL - 🏆 46. / 51 Read more »

Peter Moyo still eyes return despite breakdown in relationship | IOL Business ReportAxed Old Mutual chief executive Peter Moyo believes he still has a lot to offer to the JSE-listed insurer. Correct the name of Old Mutual Council. Terrible
Source: IOL - 🏆 46. / 51 Read more »

Chickens had to come home to roost for Maponya, says Matjila | Business | M&GFormer PIC boss Dan Matjila has described businessman Kholofelo Maponya as having ”very little respect for good governance”.
Source: mailandguardian - 🏆 2. / 92 Read more »

Eskom appropriation bill to be decided | IOL Business ReportLegislators will today have to walk a fiscal tightrope when they decide on the special Eskom appropriation bill.
Source: IOL - 🏆 46. / 51 Read more »