JOHANNESBURG - The South African Reserve Bank has exonerated President Cyril Ramaphosa from any wrongdoing linked to the Phala Phala scandal.
Former spy boss Arthur Fraser in 2022 dropped a bombshell by laying a criminal complaint against the President.
In his statement to police, Fraser revealed details of a brazen robbery that took place on the Phala Phala farm in February 2020.
READ: PRESIDENT RAMAPHOSA CLEARED IN PRELIMINARY PHALA PHALA REPORT
He claims more than 4m US dollars was stolen.
Now, the South African Reserve Bank has finalised its investigation and report into the matter.
However, it says it is a private internal document that cannot be made public.
In a statement the SARB did conclude there was no contravention of the Exchange Control Regulations due to a technicality, that money was exchanged and the agreements of the deal were not met.
Therefore, no money needed to be declared because it was subject to conditions.