The public protector has launched an investigation into suspended National Housing Finance Corporation (NHFC) CEO Azola Mayekiso after allegations of governance failures and irregular expenditure at the state housing finance entity. The probe focuses on claims of an irregular appointment process, failure to disclose business interests and improper conduct during Mayekiso’s tenure. It also places the former NHFC board chair under scrutiny for alleged operational interference and undue control over the CEO.
According to the complaint, Mayekiso was appointed CEO in March 2023 after being unemployed for three years and allegedly lacked public sector experience. It is further claimed the NHFC adopted remuneration guidelines issued by the department of public enterprises despite being a schedule 3A entity, enabling significant salary increases. The contemplated action is without substance or a justifiable basis in law, policy or fact and if implemented will be unfair and oppressive.
The public protector’s investigation also cites claims that Mayekiso failed to declare a relationship between her business interests and Werksmans Attorneys, despite overseeing the firm’s appointment to the NHFC legal panel and later using its services in the dismissal of the CFO. In August last year, the NHFC’s chief information officer resigned with immediate effect, citing an “intolerable and uncaring” working environment that she said had adversely affected her health. Her resignation letter raised concerns about: The public protector’s probe comes a month after the NHFC board placed Mayekiso on precautionary suspension with full pay and benefits.
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She was served with a notice of contemplated suspension on November 6 and formally suspended on November 17, pending investigations into alleged serious misconduct. The board said her continued presence at the workplace posed a risk to the integrity of ongoing investigations. The allegations cited include: In response Mayekiso rejected the grounds for her suspension, describing the board’s actions as unjustified and punitive. She added that if the matters under investigation had been ongoing since 2024, it was unclear why her presence was only now considered a risk.
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