FSB honcho walks the plank
DAWOOD Seedat, chief financial officer of the financial regulator, the Financial Services Board (FSB), quit suddenly on Friday amid mysterious corruption allegations.
Late on Friday, the FSB confirmed that Seedat had ‘‘tendered his resignation” after ‘‘corruption allegations that have been levelled against him in his personal capacity”.
A highly rated accountant with a long history of working in the public sector, Seedat joined the FSB in 2006 after a stint as a ‘‘specialist consultant” to the SA Revenue Service.
Before that, he worked for three years as head of forensic accounting services at the National Prosecuting Authority.
Seedat’s departure will deepen the leadership vacuum in governmentowned financial institutions.
Two weeks ago, the Public Investment Corporation’s CEO, Elias Masilela, resigned suddenly without explanation. The head of the Government Employees Pension Fund John Oliphant has been suspended for eight months.
FSB spokeswoman Tembisa Marele would say only that the allegations did not arise in the course of Seedat’s work, but rather in his private life.
The FSB said it was investigating ‘‘whether or not [these allegations] have had any impact on his employment relationship”. Seedat could not be contacted on Friday.