THE presidency yesterday poured scorn on suggestions that President Jacob Zuma has already asked former chief justice Sandile Ngcobo to head the Arms Deal Commission of Inquiry.

This follows media reports yesterday that Zuma had approached Ngcobo on Wednesday to ask him to lead the inquiry.

However, presidential spokesman Mac Maharaj said: "It is an un-sourced rumour and pure speculation. No announcement has been made. The matter is being processed by the Department of Justice and it will be sent back to the president, who will make announcements in due course."

On Thursday, Zuma announced that allegations of graft involving arms dealers who facilitated the sale of warships, Gripen fighter aircraft and submarines to SA would finally be investigated after more than a decade.

Zuma's move follows arms deal campaigner Terry Crawford-Browne's application to the Constitutional Court last year, asking it to force the president to appoint such a commission.

Zuma catapulted on previous decisions not to look into the controversial arms deal when he made his announcement last week.

The terms of reference for the inquiry will not be released just yet, the Department of Justice and Constitutional Development said yesterday.

Spokesman for the department Tlali Tlali said Zuma and Justice Minister Jeff Radebe were out of the country and as such "we are not going to make an announcement in the next few days".

But while Maharaj has denied Justice Ngcobo's appointment, David Maynier, DA shadow minister of defence and military veterans, said: "Justice Sandile Ngcobo would be an ideal person to carry out this task of national importance. He is a highly respected jurist and his integrity is beyond question.

"While the character of the person appointed to head the commission is crucial, so too is the terms of reference he or she is given to work with."