Paroled businessman, Schabir Shaik, on Monday rejected as false reports that he has been subpoenaed to testify in the imminent corruption trial of former president Jacob Zuma.

On Friday National Prosecuting Authority head Shaun Abrahams announced that he had reinstated decade-old corruption charges linked to the controversial arms deal.

“On the facts of this matter and in the interests of transparency, the interests of the administration of justice and in the interests of the National Prosecuting Authority, I am of the view that a trial court would be the most appropriate forum for these issues to be ventilated and to be decided upon," Abrahams said.

"After consideration of the matter, I am of the view that there are reasonable prospects of a successful prosecution of Mr Zuma.”

Media reports at the weekend suggested that Shaik would testify against Zuma when the matter came before the courts.

But on Monday the former financial adviser to Zuma said he maintained the money he gave to the former president were "loans" and not "bribes" as found by the court.

He said since his release he has not met Zuma.

Shaik, who was convicted for his role in the matter and released on medical parole nine years ago, however, confirmed that he had been contacted by the Hawks, South Africa's Directorate for Priority Crime Investigation which targets organised crime, economic crime, corruption, and other serious crime.

Speaking on Talk Radio 702 Shaik said he would only testify in the matter if he was subpoenaed.