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The banking regulator has firmly countered suggestions by business person Sipho Pityana that its actions improperly caused his candidacy for the Absa chairmanship to be rejected, making it clear that Absa’s board never nominated Pityana nor ever formally asked the regulator to consider his name.

The regulator, and Absa itself, on Tuesday provided a very different version of the facts from that of Pityana, who last month took the Prudential Authority and Absa to court because he did not get the Absa chairmanship...

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