Public Investment Corporation (PIC) acting CEO Matsepo More has been placed on precautionary suspension with immediate effect.
Executive head of properties Vuyani Hako will stand in for More.
This follows after the PIC board became aware of allegations pertaining to interference with the process of the Commission of Inquiry into State Capture that is currently under way.
The board thought it well to ensure free participation of staff in the inquiry process, and other suspended executives include former PIC CEO Daniel Matjila, investments executive head Fidelis Madavo and assistant portfolio manager Victor Seanie.
The PIC has been under a magnifying glass since a public inquiry was launched to investigate charges and counter-charges by and against PIC officials and board members.
The inquiry has heard testimony of how millions of rands have been lost as a result of corruption.