Ngizwe Mchunu Warns Floyd Shivambu to Stay Out of KZN Over VBS Scandal
In a fiery video circulating on social media, former Ukhozi FM presenter Ngizwe Mchunu issued a stern warning to Floyd Shivambu, the deputy president of the Economic Freedom Fighters (EFF), telling him to avoid setting foot in KwaZulu-Natal. Mchunu accused Shivambu of being complicit in the downfall of VBS Mutual Bank, a scandal that rocked the country and left many, particularly in Limpopo, financially devastated. Mchunu’s tirade didn’t stop there.
He also made an alarming call to those with access to the keys of Ithala Bank, a provincial financial institution in KZN, urging them to hide these keys at KwaPhindangene, the homestead of the late Prince Mangosuthu Buthelezi. Mchunu suggested that the funds of Ithala Bank could potentially be diverted to support the MK Party, a political entity he associates with dubious activities.His remarks reflect growing tensions in the province, where the VBS scandal remains a sore point. The collapse of VBS, which involved the looting of nearly R2 billion, led to the loss of savings for thousands of depositors, including municipalities.
Shivambu’s alleged involvement has been a significant point of contention, particularly among those who feel justice has not been fully served. Mchunu’s comments are likely to fuel further debate about the accountability of political leaders in financial scandals and the safeguarding of provincial assets like Ithala Bank. Whether Shivambu will respond to these accusations remains to be seen, but Mchunu’s warning underscores the deep-seated mistrust in certain political circles.
VIDEO: Ngizwe Mchunu telling Floyd Shivambu not to set his foot in KwaZulu-Natal because "they destroyed VBS."
He further says anyone with keys to Ithala to hide them KwaPhindangene because the bank's money will eventually be used to fund the MK Party. @ScrollaAfrica pic.twitter.com/bqchYOxLN4
— Sihle Mavuso (@ZANewsFlash) August 23, 2024