After 6 years since the launch of investigations, no single prosecution nor conviction made and when promising findings are made, AG Paul Kihara Kariuki Contravenes to protect the sacred cows from being publicised. AG has clearely contravened the independence of the CBK as articulated in Article 231-3 which states, “The Central Bank of Kenya shall […]
US-based financial company Amassment Corporation has tabled a second bid to acquire the assets of the collapsed the Imperial Bank. They cited readiness to lower KDIC’s contribution in the acquisition. The firm had, in their initial bid, stated that they want to assume all remaining Imperial Bank deposits amounting to KSh49.03 billion with an equal […]
There are new mega revelations in a petition to sack Kenya’s second senior most Judge. Deputy Chief Justice Philomena Mwilu closed irregular property deals worth Sh315 million with the collapsed Imperial Bank. Justice Mwilu secured all these multimillion loan dealings just 3 months before Imperial Bank was put on receivership. Imperial Bank was placed under […]
On October 13, 2015 a major bank in Kenya closed its doors without notice, due to the unnecessary instructions from the Deputy Governor of the Central Bank of Kenya (CBK) by placing the bank under receivership and put in the administration of Kenya Deposit Insurance Corporation (KDIC), claiming the bank was trading inappropriately. Imperial Bank […]
It all started on the 13th of October. I went to the bank only to find a notice attached to the door stating the bank is currently under receivership. At first, I thought it was probably wind up as only a month before did I fix a deposit with the bank. I have worked for […]
