By Modupe Gbadeyanka
Oakbay Investments on Monday responded to the affidavit filed by South Africa’s Finance Minister, Pravin Gordhan.
A spokesperson for Oakbay Investments said, “Today’s affidavit is a case of reverse victim syndrome. The applicant proactively came after us and smeared our name with a flawed list of transactions – that he used his unique executive power to obtain – and then questions the manner of our response to him. All of this changes nothing. Our bank accounts remain closed and no evidence exists to prove why that is the case. We look forward to clearing our name in Court.”
On January 20, 2017, Oakbay Investments submitted an affidavit in response to Minster Gordhan’s application where he sought a declaration from the court to confirm he has no legal responsibility to intervene in the matter of the closure of Oakbay’s bank accounts by South Africa’s four biggest banks: Absa, Nedbank, Standard Bank and FNB.
In Oakbay’s responding affidavit it said that the Minister’s superfluous application is riddled with factual and legal errors. Furthermore, the company said that the Minister’s reliance on the list of 72 purported “suspicious transaction reports” is misplaced and the Minister’s application is supported by a flawed analysis and a faulty factual record.
It was gathered that Oakbay has never suggested that the Minister is required to intervene in the bank-customer relationship. There is no contested legal issue here and there is never any reason for the Minister to bring this application.
This application is an abuse of court and an effort to involve the independent judiciary to settle political scores. The Court should therefore decline to grant the relief sought by the Minister and dismiss the Minister’s application with costs.
more recommended stories
Market to See Mix of Profit Taking, Bargain Hunting This Week
By Modupe Gbadeyanka The positive vibe.
Nigeria’s Manufacturing PMI Sustains Faster Growth Rate in May
By Dipo Olowookere The Central Bank.
NSE Bars Stockbrokers, Others from Capital Market for Fraud
By Dipo Olowookere No fewer than.
N8.7bn Financial Stocks Exchanged Hands in One Week
By Dipo Olowookere A total turnover.
MTN Nigeria Suffers First Loss at Stock Market
By Dipo Olowookere For the first.
Stockbrokers Institute Offers 31 Financial Journalists Scholarship
A total of 31 financial journalists.
ABCON Urges Members to Shun Gmail, Yahoo
Over 4,500 Licenced Bureau de Change.
How to Achieve Total Agric Transformation in Nigeria–Obasanjo
By Dipo Olowookere Former President Olusegun.