CSA 'no missing millions'

2011-12-02 12:53
No money missing (File)
Pretoria - There are no missing millions in the Cricket South Africa's coffers, a CSA official told a ministerial inquiry on Friday.

Nassei Appiah, CSA chief financial officer, said in Pretoria that R68 million had not gone missing, as previously alleged by former CSA president Mtutuzeli Nyoka.

The money was held as running costs for the 2009 Indian Premier League, which was hosted by CSA.

"Funds had been transferred from the BCCI (Board of Control for Cricket in India), both from India and income that they had generated locally, which was around R425 million," Appiah said.

"CSA had incurred expenditure on behalf of the BCCI, including the hosting fees of about R435 million.

"So the balance sheets reflected an asset of an amount due from the BCCI of R10 million.

"We have a balance sheet for 2009 and 2010, with 2009 showing a liability of R74 million and 2010 showing an asset of R10 million.

"Someone (Nyoka) took the difference between the two and alleged that the movement was missing funds."

Appiah said Nyoka made assumptions which were false.

"If you had to recompute the movement in the two years, you actually had to add the two because one was an asset and one was a liability," he said.

"So the movement was actually R84 million, not R64 million as stated in the records.

"It eventually became R68 million and there is nothing correct about those assumptions."


What To Read Next


Read News24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...


With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs

Under fire Proteas coach Russell Domingo has blamed player workloads and fatigue as the reason for the national team's woeful showing in the Tri Series in the Caribbean. Your thoughts?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.