Eskom treasurer Andre Pillay says if they had allowed looting at the power utility, the South African economy would have collapsed.
He says there were attempts to steal money, even though Eskom was under severe financial strain.
Pillay also told the commission that former Public Enterprises Minister Lynne Brown gave Eskom executives the green light to bypass the board and go into a R25-billion loan agreement with a Chinese company.
He told the Zondo Commission how staff opposed to the deal were pressured and purged.
Pillay was testifying at the state capture inquiry on Friday.