Tony Yengeni announced on Thursday that he would step down as the African National Congress chief whip.

"I announce that I'm resigning as Chief Whip of the ANC. I have personally taken this decision after I was charged and arrested yesterday," he said in a brief statement.

Yengeni said he could not continue as chief whip of the majority party with "those kinds of charges hanging over my head", and the impending trial.

He was granted R10 000 bail on Wednesday after appearing in the Cape Town magistrate's court on charges of corruption, fraud, forgery and statutory perjury.

"I think that this decision is fair to the ANC and to my family.

"I have conveyed this decision of mine to the ANC leadership and they have accepted it."

He would remain as a member of the ANC in parliament.

"I shall now be better able to focus at preparing myself for the trial.

"I want to reiterate my view that if any wrongdoing on the part of anybody is found regarding the investigation on the arms procurement the law should take its course.

"I also reiterate my view that I'm innocent of all charges laid against me and I will prove that in court," Yengeni said. 

With acknowledgment to Sapa and Independent Online.