[NEWS] KENYAN CENTRAL BANK FINES FIVE BANKS OVER ALLEGED THEFT OF FUNDS

Central Bank Kenya

 

 

KENYA’S CENTRAL BANK HAS DISCLOSED THAT IT HAS FINED FIVE COMMERCIAL BANKS A TOTAL OF 392.5 MILLION SHILLINGS OVER ALLEGED THEFT OF FUNDS AT THE NATIONAL YOUTH AGENCY (NYS).
THE CENTRAL BANK IN A STATEMENT ON WEDNESDAY, IN NAIROBI, DISCLOSED THAT THAT ALL THE BANKS RECEIVED A TOTAL OF MORE THAN THREE BILLION SHILLINGS FROM THE NYS ON BEHALF OF THEIR CUSTOMERS WITHOUT REPORTING THE TRANSACTIONS.
ACCORDING TO THE APEX BANK, THE FIVE BANKS ARE STANDARD CHARTERED KENYA, EQUITY, DIAMOND TRUST, CO-OPERATIVE BANK AND KCB GROUP.