Stanbic Bank · LEAD
Lloyd Masika Probed for Fraud as Stanbic Bank Exposed for Incompetence in Due Diligence
Stanbic Bank, left nursing a colossal loss, accused Lloyd Masika of gross negligence and submission of false valuation reports.
Tag · Stanbic Bank
Stanbic Bank
10 articles
Stanbic Pays Sh32M for Blunder That Cost Customer Lucrative Tender Deal as Bank Warns of New Wave of Fraud
Lender faces double blow as Court of Appeal upholds damages award while midnight fraud cases surge among millennials Stanbic Bank Kenya is grappling with a costly legal defeat and rising fraud incidents, highlighting the evolving challenges facing the banking sector in an increasingly digital landscape. The Court of Appeal has upheld a Sh32.4 million damages […]
Stanbic Bank Wins Battle to Auction Jubilee Party’s Former Headquarters
A Nairobi court has given Stanbic Bank the green light to auction the Emani Centre, the former headquarters of the once-powerful Jubilee Party. The building’s owner, Florence Wairimu Mbugua, is drowning in a loan debt of Sh192 million. She blamed her financial troubles on a mass exit of tenants after the 2022 elections. Despite repeated […]
South Sudan Threatens To Shutdown Stanbic Bank In Sh722M Row With Airline
The dispute revolves around BOSS, Air Afrik and Stanbic. It has resulted in multiple cases, with the lender’s chief executive Joshua Oigara obtaining orders barring Kenyan authorities from either questioning or arresting him over the dispute.
Stanbic CEO Joshua Oigara Escapes Arrest Over Deposit Row With Airline Company
The lender moved to court last month to stop the banking fraud unit (BFIU) at the Directorate of Criminal Investigations (DCI) and Mr Ingonga from instituting charges against Mr Oigara, its directors or staff in a dispute with Air Afrik Aviation Ltd.
Stanbic Accused Of Frustrating Investigations Into Alleged Multimillion Fraud In The Bank
The case will be mentioned on June 24 to confirm whether the lender will have complied with the court directive.
Are You Homosexuals? MP Kaluma Questions Stanbic Bank Boss Joshua Oigara Gifting Maina Kageni
In July 2023, Kaluma tabled a “Family Protection Bill” in the country’s parliament that seeks, among other things, to ban homosexuality, same-sex marriage, and gender reassignment prescriptions or procedures.
Lloyd Masika Ltd Fined Sh40M Over Fake Valuation Report
The once highly respected property management firm Lloyd Masika Limited has been caught flat-footed after it emerged that the company may have colluded with a client to give a fake valuation report that enabled the client to secure a loan with Stanbic Bank Ltd. According to available information, Stanbic Bank had instructed Lloyd Masika Ltd. […]
Okiyah Omtatah Seeks To Stop Fraud Transactions At Stanbic Bank
Activist Okiyah Omtatah wants a private account currently being used to transact public funds closed. The account at Stanbic Bank is being operated by Intergovernmental Relations Technical Committee (IGRTC). “A conservatory order does issue freezing all operations on personal bank account number 0100005155465which the 2nd Respondent’s holds at CFC Stanbic Bank, Kenyatta Avenue Branch, Nairobi […]
Kileleshwa’s Latest Residential Appeal
Kileleshwa hosts some of the most admired residential developments in Nairobi. The suburban community hosts mostly young families who are first-time home owners and is surrounded with some of the best amenities including schools, social amenities, healthcare facilities as well as shopping malls. Elina residences, a newly completed residential property by Purple Dot International sitting […]