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Court orders FNB to freeze payments from Jacob Zuma’s account – and recover R2.9-million plus interest

Court orders FNB to freeze payments from Jacob Zuma’s account – and recover R2.9-million plus interest
Former President Jacob Zuma at the Pietermaritzburg High Court on 22 March 2023. (Photo: Gallo Images / Darren Stewart)

In a statement issued on Wednesday morning, First National Bank noted that it was instructed by the High Court to place a hold on outgoing payments from former president Jacob Zuma’s FNB accounts.

“The accounts are not closed as incoming payments are unaffected. 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 bank said in its statement.

In August 2022, the Pietermaritzburg High Court ordered Zuma to pay R6.5-million with interest at the rate of 10.5% calculated from 31 August 2019 to date of final payment.

The writ of execution issued by the High Court, which was served on FNB on 29 February this year, (and which Daily Maverick has seen) says:

“You are hereby directed to attach and take into execution all the banking accounts of (Jacob Zuma) with his residential address Nkandla Zuma Homestead, KZN – held at First National Bank.”

The writ goes on to say that the amount to be realised from the attached account/s is R2.9-million with interest at the rate of 10.25% a year to be calculated from 31 August 2019 to date of final payment.

Jacaranda FM has reported on the MK Party’s objections, saying the move was politically motivated and only happened after Zuma announced he was backing the party for the upcoming elections.

However, the matter was struck from the court record in April 2020 by agreement between both parties and due to Covid restrictions. Zuma then made several ad-hoc payments which led liquidators to believe that he was going to settle the account. DM



Comments - Please in order to comment.

  • Tumelo Tumelo says:

    This man has a nodding acquaintance with responsibility at best, in every aspect of his life. A truly shameless individual.

    • Acwam 58 says:

      You took the words out of my mouth, Tumelo. What a bit of human detritus is this person, an extremely poor excuse for a leader in our country. May his followers be forgiven for their obtuseness, in this lifetime. Thieving scum.

      • Kanu Sukha says:

        Not his followers … but his preposterous legal counsel who … ‘works’ for ‘peanuts’ … trying to prevent him having to stand trial ! Just like Trump tried in the US . At least there it seems to be ‘catching up’ on Trump.

        • Kim Grobler says:

          AND why bring Trump into this scenario? Concentrate on SA issues instead. It’s like chalk and cheese for heavens sake!

          • Hilary Morris says:

            More like two peas in a pod.

          • D'Esprit Dan says:

            Why not bring Trump into it? He’s as sleazy as Zuma in every aspect of his life – free and easy with other people’s money, can’t keep it in his pants (allegedly whether the woman is willing or not), both happy to destroy a country for their own narrow ends and both fugitives from justice trying everything in their power to avoid their rightful fate!

          • Rodney Weidemann says:

            Well, if I were to comment: ‘A thieving, criminal, sexual-abusing scumbag of a former president who wants to be a dictator’ – you wouldn’t be able to tell whether I was talking about Zuma or Trump, would you?
            THAT’s why Trump can be brought into this scenario – the two of them are equally awful, narcissistic psychopaths…

        • Middle aged Mike says:

          Why not his moronic followers who gave us two terms of the miscreant as president? How do they get pass?

  • Jim F. says:

    Ever the adage, if you owe a bank 100,000.00 it is your problem. Owe them millions, it is their problem. I doubt he loses any sleep over the issue.

  • Acwam 58 says:

    Jakob Zuma doesn’t follow court orders. This is clear. He and his vacuous followers have only the overthrow and capture of SA in their sights. Loot, pillage, rape, rob and murder. Well taught by the anc, who were well taught by the nats. I guess God has an enormous sense of humour.

  • Charles Butcher says:

    Attach his assets, like property, sell off to recover costs

  • Jucy Malema says:

    This is beautiful. Please more of this.

  • Mark Benson says:

    This man is truly Evil and needs to be locked up for safety of our beautiful country. The

  • Lebitsi Leburu says:

    Nkandla was build with stolen money amounting to about R246m and he got ir for a lousy R6,5m which he refuses to pay. According to his supporters he’s a messiah who will take this country to the promised land. If this id the best the country can offer we’re in deep trouble.

  • Rae Earl says:

    Zuma will no doubt stop any money from entering the affected bank account. Once a thief always a thief. SA does not need this low-life person anywhere in the country never mind heading rubbish parties like MK which is made up of people just like Zuma. He wrecked South Africa single handed and history could easily repeat itself if he is given enough power.

  • Andre Swart says:

    Jacob the deceiver, lier and traitor … ?

    True to his Biblical namesake?

  • Jane Crankshaw says:

    R2.9m??? This is but a drop in the Ocean! Please get serious…..

  • Kim Pabalo says:

    To be honest JZ is just greedy which is taken as a very bad behavior at his age right now but the nation is very sorry for his followers because they are trapped people like JZ and Trump plus President Museveni of Uganda they don’t deserve judgement they deserve to be eliminated just to be deleted and locked up somewhere where is no humanity.

  • Leonard Willard says:

    Let’s not forget about the Gupta’s that helped him organize the theft of most of his money plus the money he allowed them to steal!

  • Richie Rich says:

    Your headline says it all that this was ordered by the court.
    But his bevy of cult followers it is wholly the evil work of WMC banks and so they’re calling for fellow cultists to close their FNB accounts.

  • Pieter McPherson says:

    He should be locked up for money laundering, fraud and corruption. He started to put South Africa in debt with this corruption. He stole the money to enriched himself.

  • Dave Crawford says:

    Looking at Louis Liebenberg in the picture in DM168 I couldn’t help thinking of him and his guests at that thrash as a version of the My Pillow Guy, Mike Lindell, in the US. He must have a lot that he wishes to bury.

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