NEDBANK SUSPENDS SENIOR OFFICERS

MBABANE – Certain senior officers at Nedbank Swaziland have been placed under precautionary suspension.

The suspension of some of the management team was done last week after the bank came across certain activities that appeared on the face of it to be irregularities during payment processes.
Employees at the bank have been speaking in hushed tones about the matter which is said to involve millions of Emalangeni, as some of the bank workers were allegedly informed that some of their managers were on annual leave yet they had been suspended by the bank.

Well-placed sources informed this publication that about four managers were involved, and as result the bank had launched an investigation for transactions which also date back as far as 2016.
Nedbank Swaziland, through its Chief Operating Officer James Matthews, chose to play its cards close to the chest.
Responding to a questionnaire sent to him on Friday, Matthews confirmed that some of the employees had been placed under what he termed as precautionary suspension.

irregularities

“In the ordinary course of reviewing payment processes, we came across certain activities that appeared on the face of it to be irregularities,” said Matthews.
He added that at this stage they were not certain, but had launched an investigation. “As a precautionary measure and without suggesting anything untoward, the bank has placed certain employees on precautionary suspension,” he said. 
He further stated that the bank would not be making any further comments on this matter until the investigations were complete and the internal processes of the bank had been concluded.

Although the COO had been asked how many employees had been suspended and how much money was involved, those questions were not responded to nor was the question on the nature of the investigations entertained. 

         
Suspended

Meanwhile, the Secretary General of the Swaziland Union of Financial Institutions and Allied Workers (SUFIAW), Jabu Shiba, said if anyone was suspended, it was none of their members. “If there is an issue there, then it has to be with management because none of our members have contacted us on suspensions,” said Shiba.

In an unrelated incident, a former Nedbank Insurance Specialist Shirley Dlamini, was last week Friday arrested for allegedly defrauding the bank E664 062. Dlamini (49) is presently employed by the Swaziland Building Society after resigning from Nedbank about a month ago.

According to her charge sheet, Shirley was an insurance specialist who was entrusted with due care and custody of the bank’s internal Suspense Account and insurance payment, and in allegedly defrauding the bank, she reportedly misrepresented to Nedbank Head of Credit, Leonard Dlamini that the aforementioned money was due to be paid in insurance claims.

Recently, a First National Bank employee Thulani Nkambule was alleged to have stolen about E2.8 million in one day. Nkambule, who was a supervisor for consultants at FNB, is currently on the police wanted list.                   

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