The Central Bank of Kenya is charged with the responsibility of monitoring activities of other commercial banks in the country. The CBK also prints out money to match the economic index which has been witnessed besides offering loans to other commercial banks.
However, the CBK needs approval from the Treasury and Parliament to undertake some of the crucial things such as giving loans.
Flamboyant City Lawyer Ahmednasir has leaked that the CBK has engaged in giving 3 banks interest free loans without approval from Treasury and parliament - a move that is against the law. Ahmednasir has alleged Ksh. 15 billion was given to Mauritius SBM.
" CBK Governor Dr @njorogep in the past 3 yrs gave 3 Banks interest free loans totaling Kshs 50 billion without Treasury & Parliamentary approval.The Auditor General doesn't audit CBK's loan book. For Instance he gave Kshs 15 Billion to Mauritius SBM when he sold them Chase Bank! " Lawyer Ahmednasir said.
Content created and supplied by: Eli.pHD. (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More