Following the report of Public Protector with respect to the recovery of public funds from ABSA, Mr Michael Oatley, the former chairman of CIEX has presented the given below statement in order to clarify the misconceptions regarding the tasks, purpose and performance given by the CIEX in this regard.
Statement given by the Former CIEX chairman:
As per the reports published on the website BlackOpinion,Some recent posts of Tito Mboweni on Facebook regarding the unpleasant argument of racial condescension prompt Mr. Michael Oatley to present the following accurate history that might be completely verified through the documents, which are found to be in the custody of Public Protector. He has described the opportunities available for recovery and restitution together with a list of targets for the purpose of investigation. The fraud and criminal conspiracy represented by the ABSA lifeboat was supposed to be at the top of the list as it has given an earlier opportunity for the government in making a substantial recovery.
What actually CIEX has done against ABSA:
CIEX should be involved to hunt this list of targets. Furthermore, a budget was agreed to cover the operational expenditure. The project was kept confidential and CIEX was contracted by SASS in support of government. It was accepted and understood that the project would faster turning to be cost-free and self funding to the tax payer as soon as the funds were recovered from ABSA. But, CIEX was not actually employed to make recoveries yet instead to offer evidence and intelligence enabling such recoveries, which would be made by the suitable authorities. And this is exactly what CIEX has performed against ABSA. In order to terminate the contract of CIEX, it was suggested that it seems to be a temporary measure and possibly the contract was renewed so as to pursue other targets as well as opportunities.
Evaluating the details & illegality of ABSA conspiracy:
The deputy president has sown a detailed and positive interest towards this project. So for, two reports were submitted in front of him. The two reports were passed and discussed by the respective members. In fact, the queries raised by the ministries during the meeting were enclosed in the third report framed by CIEX, which was then submitted to the deputy President and ministerial group. Enquiries and investigations were done and later conclusion was made in relation to ABSA. The reports of CIEX has also covered criminal charges in opposition to those principally concerned while promoting the scheme of recovering money from ABSA devoid of any disruption to banking system and also the accounts of significant international precedents. Discussions were made exhaustively regarding this matter. Finally, the practical and legal opportunity to make recovery has been established without any doubt. This is what CIEX has achieved during the contract.
The final verdict:
So, it is evidently proved that CIEX did their best in order to recover the public funds from ABSA that was given to them as a lifeboat during the apartheid age. The opportunity and offering given by CIEX is also confirmed while recovering funds from ABSA.