A South African bank revealed on Wednesday that a court had directed a halt to outgoing payments from former President Jacob Zuma’s accounts, amidst a dispute over loans used for renovations to his private residence during his presidency.
First National Bank (FNB) stated that the directive came as a result of legal actions taken by the liquidators of another bank, which is owed funds by the 81-year-old politician.
“FNB was instructed by the High Court to place a hold on outgoing payments from former President Zuma’s FNB accounts. The accounts are not closed as incoming payments are unaffected,” FNB informed AFP.
“This instruction from the court results from the process currently being managed by the VBS Bank liquidators, and FNB was legally required to comply. Former President Zuma’s recourse now lies with the courts and VBS liquidators.”
The move is likely to further impact the reputation of Zuma, who faces corruption allegations, particularly ahead of the general elections on May 29.
During his tenure from 2009 to 2018, Zuma faces criticism for the renovation of his vast residence in KwaZulu-Natal province, which included a chicken coop, a swimming pool dubbed a ‘fire pool,’ a cattle enclosure, and an amphitheater.
Zuma had taken out a loan of 7.8 million rand ($413,000) from VBS to settle the renovation costs, but the bank’s liquidators have pursued legal action to reclaim the outstanding amount.
