BUNYE BETFU ERROR: E511 000 PAID OUT TO SOME MEMBERS

MANZINI – Some members of Bunye Betfu Buhle Betfu Savings Cooperative had money amounting to E511 000, erroneously deposited into their bank accounts.

Bunye Betfu is one of the largest savings and credit cooperative societies (SACCO) in the country and its value is estimated to be more than E250 million and with more than 6 000 members. The membership consists of civil servants and employees of a few government parastatals (majority being civil servants). According to impeccable sources, the money was sent to the various members’ accounts without a signed instrument and without the knowledge of the treasurer, who is supposed to be a custodian of all the funds.

Accounts

The impeccable sources claimed that the said over E0.5 million was credited to different members who held accounts with one bank known to this publication. The money was said to have been deposited to the members’ accounts last September. It was claimed by the sources that what was shocking to them was that all the members who benefitted from the transfer of money had not applied for loans from the fund. It was gathered that this resulted in their bank accounts being frozen by the bank while trying to recover those monies for Bunye Betfu. The aggrieved members alleged that there was malpractice and incompetence in the transaction by those responsible and want action to be taken, which they supposed the Board Chairperson, Fortunate Lukhele, was reluctant to initiate.

“No action or even a corrective measure was ever taken by the employer against this negligence and it is shocking. No one was ever suspended so that this can be properly investigated,” an aggrieved member said. In light of these allegations, the Board chairperson admitted that there was an error that occurred. Lukhele said on the day the payments were made, there had been complaints that those who had filed requests for loans had not been paid. She said following this, an enquiry was made at the bank where it was discovered that there were two lists of members who had to be paid. In one list, she claimed, the members were paid while in another, five had not received their money.

Payments

“The second list with five unpaid people was then authorised and they were paid; however, on Monday (a day after the payments), the accountant discovered that non-deserving members had been awarded money,” Lukhele said.

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