The Democratic Alliance said on Sunday it welcomed reports that former Transport Minister Mac Maharaj would resign from his directorship with FirstRand.

The Sunday Independent reported that Maharaj's wife, Zarina, said that Maharaj would resign this week as the banking group's highest-paid non-executive director because a public furore around him, stemming from aspects of the controversial multi-billion rand arms deal.

Said the DA's spokesperson on corruption, advocate Hendrik Schmidt, on Sunday: "It is important though that he continues to be part of the Scorpions' investigation into the arms deal, and we urge him to fully cooperate with this probe.

"It would appear that the higher levels of accountability required from within the private sector has contributed to Mr Maharaj's decision to resign.

"It should serve as support though for the reports compiled by FirstRand to be released."

It is in the public's interest that all the facts and allegations were properly ventilated and investigated.

The public had a right to know whether there were any instances of corruption during his term of office, especially in respect of tenders relating to the N3 toll road or the issuing of new drivers licences.

"It would furthermore be in the best interest of FirstRand to provide all the facts as contained in the report, given its role in providing financial funding in certain projects undertaken by the department of transport whilst Mr Maharaj was minister."

With acknowledgement to Sapa.