Central benk to probe commercial banks involved in NYS scandal

Central Bank of Kenya governor Patrick Njoroge-FILE

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BY NAMULONGO PETER, NAIROBI ,29TH MAY 2018-Central bank governor Patrck Njoroge says the  institution is working closely with the directorate of criminal investigation DCI as well as the office of public prosecution to ensure that any commercial bank that was involved in the fraudulent  transfer of money in the NYS mega scandal is  held responsible.Addressing the press in Nairobi on Tuesday, Njoroge said that every commercial bank has clear guidelines emanating from the banking act to be open and ensure transparency when dealing with any huge amount of money.”Every commercial bank has to resign and adhere to the rules and laws available.No commercial bank that should transact in any amount of cash which is more than a million and not explain how it came into contact with it”.He said.

He promised that central bank will ensure that the cash looted is recovered and responsible banks which may have gone against the law will be shut.

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