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KCB boss Oigara faces queries over suspect transfers

By Hillary Mageka
Monday, July 20th, 2020
KCB Group CEO and MD Joshua Oigara.

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 Sh300 million in cash without proper documentation. 

Senate Majority Whip Irungu Kang’ata and Nandi Senator Samson Cherargei further want Oigara to explain how the lender allowed the irregular withdrawal and expressed fear that it the decision undermines  the war on corruption.

“The withdrawals were against the Banking Act and the CBK regulations,” Cherargei said.  

Court order

 The duo spoke 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.

However, the committee’s session with the governor could not proceed, as he is 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 Auditor-General's office, in its report, had flagged out that the Bank allowed the county executive to withdraw Sh206 million at one instance for unspecified payments, which were not supported, by appropriated authority or documentation.

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