Fraud and corruption accused Schabir Shaik regarded Deputy President Jacob Zuma's pension money of R3,2 million as a source from which he could be repaid if Zuma lacked the cash to do so, the Durban High Court heard on Thursday.

There was also no doubt that due to Zuma's current financial position he would be able to pay back monies owing to Shaik and his Nkobi group of companies, defence advocate Francois van Zyl told the court.

He said Zuma no longer had obligations to Standard Bank and Nedbank and had also paid back the R250 000 owing to Eric Malengret who was contracted to develop his traditional village project, Nkandla.

Shaik's lawyer also pointed the finger at the financial director of Shaik's Nkobi group and external auditing firm, David Strachan and Taylor, saying they were to blame for irregularities in the group's accounting records.

The state alleges Shaik paid at least R1,2 million to Zuma in an attempt to secure a slice of the controversial multi-billion rand arms deal, and attempted to get a bribe of half a million rand per year for the deputy president from French arms company Thomson-CSF -- in exchange for protection during investigations into arms deal irregularities.

Thomson-CSF and Nkobi tendered for the naval corvette contract under the umbrella of African Defence Systems.

On Thursday Van Zyl wound down his cross-examination of forensic auditor Johan van der Walt by explaining away all the charges against Shaik.

Van der Walt has been in the witness box for 16 days detailing and then being grilled on his Scorpions-commissioned forensic report linking Shaik to Zuma.

With acknowledgement to Sapa.