'We will leave no stone unturned in order to uncover the complexity of the web and the financial machinations that went into developing these fraudulent schemes.'

The minister said the bank is performing better now.

He, however, said many challenges remain and continue to put pressure on the liquidity of the bank.

'There have been moratoriums and I will not deal with those in detail. The policy of the bank has to ensure its own sustainability,' he said.

He said farmers, who did not repay money owed to the bank, impacted negatively on it, making it suffer liquidity problems.

He added that he had approved the recapitalisation of the Land Bank through an increased guarantee of 3.5 billion South African rand (about $435 million).

'These steps will ensure that the Land Bank is financially sustainable, and will be viable to promote effective economic development in rural areas,' he said.