Bank chiefs to be held accountable over NYS money

Director of Public Prosecutions Noordin Haji speaks about the war on corruption during the National Policing Conference at the Kenya School of Government on September 13, 2018. PHOTO | DENNIS ONSONGO | NATION MEDIA GROUP

What you need to know:

  • The Central Bank of Kenya (CBK) fined five commercial banks a total of Sh392.5 million in connection with the theft of funds at the NYS.
  • Those penalised are KCB Group (Sh149.5 million), Equity Bank (Sh89.5 million), Standard Chartered Bank-Kenya (ShSh77.5 million), Diamond Trust Bank (Sh56 million) and Co-operative Bank of Kenya (Sh20 million).

Chief executives and employees of banks who helped ship out billions of shillings from the National Youth Service (NYS) will be arrested and prosecuted, the Director of Public Prosecutions (DPP) Noordin Haji has said.

Welcome!

You're all set to enjoy unlimited Prime content.