A former FNB manager who once served as the bank’s public face for consumer education has appeared in court on charges of corruption and money laundering. The case links Eunice Sibiya to an alleged multimillion-rand payment scheme involving a consumer education contract.
Sibiya has pleaded not guilty. She is due back in the Palm Ridge Specialised Commercial Crimes Court next month. One co-accused has already been convicted.
Court Appearance and Charges
Eunice Sibiya appeared in the Palm Ridge Specialised Commercial Crimes Court in April 2025 for the start of her trial. Hawks spokesperson Lieutenant Colonel Granville Meyer confirmed she faces charges alongside one co-accused and will return to court next month.
According to the Hawks, Sibiya and two co-accused first appeared in court in July 2019. Former Hawks head Lieutenant General Godfrey Lebeya stated last year that the investigation opened in 2018. It centres on a 2016 consumer education agreement that Sibiya allegedly signed while representing FNB. Prosecutors allege she received undisclosed payments from the managing director of a communications company through intermediary Teddy Maduna.
When the case first reached court in 2019, the three faced 131 counts of corruption and money laundering involving R86.8 million. Sibiya has not been convicted.
Background of the Alleged Scheme
Sibiya worked for years as FNB’s head of consumer education and a regular spokesperson on financial literacy. From 2010 she offered public commentary on topics such as smart saving, holiday spending and how interest rates work.
Public references to her as an FNB representative last appeared in early 2018, a few months before the Hawks opened the case. After leaving the bank she continued offering financial advice as an independent coach, according to her social media accounts. FNB has not confirmed the exact date she left the company.
Responses from the Parties
Sibiya declined to discuss the charges.
“Unfortunately, I don’t speak on legal matters of any nature,”
she said.
A third accused, Teddy Maduna, pleaded guilty to 22 counts of money laundering. On 11 December 2024 the Johannesburg Specialised Commercial Crime Court, sitting at Palm Ridge, convicted him and sentenced him to one year’s imprisonment or a R30 000 fine, plus a further three years’ imprisonment that was wholly suspended.
FNB confirmed it is aware of the criminal case and that Sibiya is a former employee. The bank said the matter came to light through its internal processes and was investigated according to legal and internal procedures. It reported the issue to law-enforcement authorities and continues to cooperate fully.
“FNB has a zero-tolerance approach to fraud, corruption and all forms of unlawful conduct,”
the bank stated.
It declined to answer questions about any financial loss, how it first learned of the payments, or whether it has lodged civil claims, saying further comment would be inappropriate while proceedings continue.
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