KCB’s CEO Joshua Oigara On The Spot; Nairobi County Officials Were Allowed to Withdraw Sh300m In Cash.

KCB's CEO Joshua Oigara On The Spot

Kenya Commercial Bank (KCB) boss Joshua Oigara is in the spotlight. This is after queries arose as officials from Nairobi County were allowed to withdraw Sh300 million in cash without proper documentation.

As a result, two senators want Kenya Commercial Bank (KCB) boss Joshua Oigara to appear before the County Public Accounts and Investments Committee to explain circumstances under which the bank allowed officials from Nairobi County to withdraw such a huge amount of money.

The two Senators, Senate Majority Whip Irungu Kang’ata and Nandi Senator Samson Cherargei who pointed out an undermining of the war on corruption, further want Joshua Oigara to explain how the lender allowed the irregular withdrawal and expressed fear that it the decision undermines the war on corruption.

This emerged after Nairobi Governor Mike Sonko appeared before the County Public Accounts and Investments Committee to respond to audit queries for the county for the 2017/18 Financial Year.

Cherargei said, “The withdrawals were against the Banking Act and the CBK regulations”. However, the committee’s session with the governor could not proceed, as he said he was not able to access crucial information on finances owing to the court order that bars him from accessing his office pending the determination of the corruption charges facing him.

The bank had been flagged by the Auditor General office, in its report, after it allowed the county executive to withdraw Sh206 million at one instance for unspecified payments without relevant support documents.

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