Nazir Razak to ‘engage’ with MACC on 1MDB funds

Former CIMB chairman Nazir Razak says ‘not a single sen was retained or used’ by him. (Bernama pic)

KUALA LUMPUR: Former CIMB chairman Nazir Razak said he will seek to engage with the Malaysian Anti-Corruption Commission (MACC) to resolve the matter of alleged 1MDB money transferred into his account.

In a statement today, Nazir noted that he has been a vocal and frequent critic of 1MDB, and the idea that the funds that flowed through the account may have originated from 1MDB “has been gut-wrenching for me”.

“I intend to engage with the MACC to resolve this matter. I fully respect the work that they’re doing to recover 1MDB funds and will assist as best as I can,” he said.

MACC has served compound notices to 80 individuals and entities which allegedly received funds totalling RM420 million from 1MDB, with Nazir alleged to have received the highest amount of RM25.7 million.

Nazir, a younger brother of former prime minister Najib Razak, pointed out that he had previously confirmed that Najib transferred a total of RM25.7 million to an account in his name in 2013.

He said the funds were subsequently disbursed in cash and in full to Najib’s representatives for what he understood were election campaign purposes.

“Not a single sen was retained or used by me,” Nazir said, adding that he acted in good faith in order to oblige his brother’s request for assistance in the 13th general election campaign.

“And back then, I was informed that the funds originated from legitimate political fund-raising and had no reason to think otherwise,” he said.

Nazir said when the alleged links between 1MDB and Najib’s fund transfer surfaced in the media in April 2016, he took voluntary leave from his positions at CIMB for the boards of CIMB Group and CIMB Bank to conduct a full review of what transpired.

“They did so with the help of an accounting firm and a legal firm. I was subsequently cleared and invited back to the board,” he said.