TILENI MONGUDHI and SHINOVENE IMMANUEL FIRST National Bank Namibia wants to shut down the bank accounts of several politically connected individuals linked to the Fishrot corruption scandal.
This includes deputy minister of works and transport Veikko Nekundi, Swapo regional coordinator Armas Amukwiyu, and businessman Vaino Nghipondoka.
The bank has also dispatched termination notices to its clients who are currently in jail awaiting trial in connection with the scandal.
Some of the Fishrot-accused FNB clients include former Investec Asset Management Namibia managing director James Hatuikulipi, his cousin Tamson ‘Fitty’ Hatuikulipi, former minister of justice Sacky Shanghala, and Ricardo Gustavo.
This comes around two years after FNB dumped oil speculator and wheeler-dealer Knowledge Katti for business dealings not related to the Fishrot case.
has established that FNB decided to make these moves in a derisking exercise aimed at fighting money laundering and corruption.
FNB spokesperson Elzita Beukes yesterday said the bank cannot publicly discuss any decisions taken on private accounts or on any ongoing legal investigations.
She said the bank reserves the right to terminate any contractual banking relationship if it poses an unacceptable risk.
FNB is one of the banks named in court documents as having been used to transfer tainted Fishrot funds which were used by the Fishrot accused to buy assets.
Some of the accused have also bought corruption-tainted residential properties through FNB Namibia.
Namibian Sun earlier this year reported that at least 23 vehicles worth N$24 million are the subject of a court battle between FNB and prosecutor general Martha Imalwa.
The bank is still owed money on many of the vehicles purchased through loans extended by it.
It appears the bank is now trying to clean up its position while it fights Imalwa, who is hell-bent on confisticating assets of the Fishrot accused.
has seen a letter dated 3 June, notifying one of the affected clients that their relationship with the bank would be terminated in 60 days.
“This review was done in light of adverse media publications by the Namibian media regarding yourself and your associated business on the underlying transactional behaviour on the various accounts held by FNB Namibia with individuals and entities linked to the ongoing Fishrot case,” the letter read.
The letter said the publicity and risk associated with the above does not resonate with the bank’s values and principles.
“In light of the aforesaid, FNB Namibia had decided to divest from its business relationship with you,” it stated.
The bank informed the involved clients that they have 60 days to make alternative banking arrangements.
These instructions are said to have come from the FirstRand Group, FNB’s mother company.
last year reported that Nekundi was a beneficiary of N$20 000 paid into his FNB account from laundered Fishrot money.
The payment came from DHC Incorporated, which belongs to fugitive from justice Marén de Klerk.
The transfer was made to Nekundi’s FNB account on 11 September 2017.
Nekundi could not explain why and how the money ended up in his account.
FNB is, however, closing this account.
Nekundi did not respond to questions sent to him.
Amukwiyu is another politician set to lose his FNB Namibia account.
His entity benefited from at least N$5,2 million, which was allegedly stolen from national fishing company Fishcor.
The N$5,2 million was transferred from Sisa Namandje Inc & Co to the Gwashihwemwa Family Trust, which was controlled by Amukwiyu in December 2015.
Amukwiyu allegedly also used dirty money to buy a Land Rover Discovery, which he has since handed over to the authorities.
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