Categories: Politics

Exposed:Names of Banks & Amounts they Transacted the NYS Cash since 2013

[File Image-Central Bank of Kenya Governor Patrick Njoroge/Photo Courtesy ]

Over 10 commercial banks are currently under investigation for processing clients’ transactions from the ongoing National Youth Service where a whopping 9 billion shillings got squandered— even as Central Bank and the Directorate of Criminal Investigations (DCI) warned of consequences that could include loss of operating licences.

With a few exceptions such as Diamond Trust Bank,  which said it fulfils its prudence obligations in respect of all transactions, many banks said they could not comment on a matter under the investigation by the DCI, Office of the Director of Public Prosecutions (ODPP), National intelligence Service (NIS), Central Bank and the Kenya Revenue Authority.  Some did not respond at all.

READ ALSO:The Unusual Places DCI officers Broke into during Ngirita family home Raid

Central Bank Governor Dr Patrick Njoroge said that the theft of NYS money — through fake payment vouchers — was aided by the banks “deliberately” – and asked: “Or how else could you make a mistake on things that you are aware of?”

In an expose’ shared by Ukweli party vice-chair and political commentator Scheaffer Okore on Twitter,nearly 6.3 Billion shillings have been transacted by the NYS to around 29 banks since 2013.

This comes as the Director of Criminal Investigations,  Mr George Kinoti, warned the banks not to hide behind the ongoing investigations.

READ ALSO:National Police(NPS) Expose Why Wanjigi Was Fired From Police Service

Banks are regulated by the Central Bank and are required to comply with the provisions of the Proceeds of Crime and Money Laundering Control Act, Prevention of Terrorism Act, Banking Act and relevant Prudential Guidelines.

They are by law required to adhere to the Know Your Customer requirements and are bound to monitor and report suspicious and unusual transactions to FRC.

Kenya Commercial Bank,  which is also being investigated, refused to comment on any of the issues raised – including what they did when money was wired to the bank.

Standard Chartered Kenya chief executive Lamin Manjang also refused to reveal any details saying: “We are unable to comment on the matter since it is under investigation by the authorised government agencies.”

READ ALSO:NYS Suspect Ann Ngirita said to be Sister to this Jubilee MP

Similarly, Barclays Bank of Kenya  said they do not want to “compromise the quality of (the investigation) process,” adding that they “take governance very seriously and, to that end, we always co-operate fully with any investigating agencies as called upon.”


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