Winston Peters is saying "I told you so" over the voluntary suspension by Fuji Xerox on any new Government contracts.

The six-week suspension comes after irregular accounting at the New Zealand and Australian arms of Fujifilm Holdings in Japan, resulted in nearly half a billion dollars in losses.

The accounting errors resulted in major resignations at Fujifilm Holdings in Japan.

The New Zealand First leader has been predicting the Government will be caught up in the scandal since it broke - and Mr Peters did not hold back when asked about this latest development.

"They denied everything didn't they. Lied like flat fish in Parliament and they got nailed. Please don't spend anymore time defending them unless you want to get in the ring and be a candidate in this campaign."

The Government couldn't get out of its current contracts with Fuji Xerox, worth about $55 million, even if it wanted too.

Cabinet Minister Simon Bridges said MBIE asked for the suspension while it looked in to the report.

"They've got serious internal issues in accounting irregularities but they're performing their contract and we don't have a legal basis to get out of the contract," Mr Bridges said.