Businessman Sipho Pityana says he will take the ABSA Group to court. The board dismissed him as a director, He waived his duty and said he could not act in the best interests of the bank.
Issues related to the proceedings filed by Pitiana against the Prudential authorities of the Reserve Bank. Pitiana accused authorities of being involved in an illegal and informal process with Absa, and as a result he was not considered for his role as chair of ABSA.
ABSA denied Pitiana’s allegations, stating that Pitiana had never formally addressed the issue with banks.
Pitiana says he is taking action
He states: “Absa’s Board of Directors may have abandoned its duties and failed to challenge its authority to violate the role and responsibilities of the Board of Directors. I have respect and respect for our judiciary. I was hoping to show. “
“All these issues are in front of the court. Why hurry up and instead of waiting for the court to deliberate, jump into the decision to remove me from the board, consider the facts and come to a conclusion?” Added.
In the video below, Pityana speaks to SABC News.
Pitiana Brings ABSA to Court-SABC News
Source link Pitiana Brings ABSA to Court-SABC News