Jacob Zuma's FNB account was frozen after he defaulted on the loan he took from the defunct VBS Mutual Bank to pay for the upgrades he made for Nkandla.
This action was taken due to the former president's continued default on the loan he had taken from the now-defunct VBS Mutual Bankcurrent affairs journalist in Johannesburg, South Africa, has covered policy changes, the State of the Nation Address, politician-related news and elections at Daily Sun and Vutivi Business News for over seven years. Do you have a hard news story you would like to share? Email [email protected] with CA in the subject line.
FNB had Zuma's account frozen because of a court order. Images: Tebogo Letsie/City Press/Gallo Images via Getty Images and Nadine Hutton/Bloomberg via Getty Images– Jacob Zuma's FNB account was frozen thanks to an order obtained by VBS Mutual Bank liquidator Anoosh Rooplal. This was because Zuma defaulted on paying the loan he took from the defunct bank.
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