Barclays ditches Nteta from its board

The latest concerning a legal tussle between Barclays Bank Botswana and that one of its clients, House of Glam is that the bank has acknowledged having honoured the payments subsequent to receiving instruction from its former Director, Mokgadi Nteta.

It is alleged that in all the transactions which total over P600 000, 00 Nteta informed the bank that she was reimbursing one of her companies for the expenses it incurred on behalf of House of Glam. Botswana Guardian investigations can reveal that Nteta is no longer in the bank board having left in 2013 after alleged professional misconduct. House of Glam has taken Barclays Bank of Botswana and its own Director, Mokgadi Nteta – also a former director and board member of Barclays Botswana to court seeking damages of over P1million which include legal fees close to P1million which the bank allegedly allowed Nteta to withdraw from its account and or on behalf of her business without proper authorisation from co-signatories.

The withdrawal of the huge amounts led to a series of meetings, letter writings and counter writings between the Bank, House of Glam representative and this led the bank to investigate on what could have happened.
Barclays allegedly managed to break through the mould early last year and admitted having released the huge amounts after receiving instruction from Nteta. Botswana Guardian is in possession of letters allegedly written by the bank’s Managing Director Reinette Van Der Merwe last May to one of the Directors of House of Glam, Ms Segametsi Nomsa Seisa who is also the plaintiff in the lawsuit. Van Der Merwe states that the bank has concluded investigations on the issues raised and advises as follows: the P492, 793, 45 transaction that was debited from House of Glam (PTY) Ltd on the 13-03-2013 was on instruction received from Ms Mokgadi Nteta on the 12-03-2013, being expenses incurred by Hair Solutions on behalf of House of Glam expenses.

Further that the P157, 903.74 debited from House of Glam (Pty) Ltd on the 27-03-2013 was also on instruction received from Ms Nteta on 26-03-2013. These were also expenses incurred by Hair solutions on behalf of House of Glam. “The Bank is still investigating the P250 000, 00 facility.” A questionnaire from Botswana Guardian to the bank this week attracted the same answer as last week’s.

Barclays Bank public and media relations manager, Sakaeyo Baitshepi confirmed that, “We have a matter under litigation before the courts,” but said they are unable to comment, “As we may prejudice the case prior to its hearing.” Baitshephi further confirmed that “Nteta is no longer in our board of directors having left in 2013.”Baitshephi could not be drawn into discussing why Nteta quit the board. All efforts to contact House of Glam Directors, Segametsi Seisa and Mokgadi Nteta were not successful, repeated calls to Hair Solutions office were not answered.
All the transactions were made in the first three months of the year, as follows: P250 000 on January 2013; P492,763 on 13 March 2013 and lastly P157, 903.74 on 27 March 2013. These totalled P900, 667.19.

In the matter before court, House of Glam is suing both Barclays and Nteta for having honoured the payments and allowing Nteta to withdraw that money as the only signatory in clear contravention of the signing mandate before the bank.

Last modified on Tuesday, 17 February 2015 14:39

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