DPP Tobiko wants 28 banks probed over NYS billions

November 24, 2016
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Tobiko has written to CID Director Ndegwa asking him to furnish his office with the details within 21 days/FILE
Tobiko has written to CID Director Ndegwa asking him to furnish his office with the details within 21 days/FILE

, NAIROBI, Kenya, Nov 24 – Director of Public Prosecutions Keriako Tobiko wants the Directorate of Criminal Investigations to undertake a probe into 28 banks that were recently implicated in handling questionable transactions from the National Youth Service.

Tobiko has written to CID Director Ndegwa asking him to furnish his office with the details within 21 days.

He says if a probe has already been instituted into the 28 banks, then the files should be forwarded to him.

The probe follows findings by the National Assembly’s Public Accounts Committee which established that the scandal was wider than initially thought as more banks handled the suspect NYS billions.

The details emerged last week during a probe by the Nicholas Gumbo-led PAC.

“Evidence before the committee clearly shows most if not all of the payments originated from accounts held by the Ministry of Devolution and Planning at the Central Bank of Kenya. In this regard we will be seeking this information from the Ethics and Anti-Corruption Commission (EACC) and Directorate of Criminal Investigations (DCI); we would like to know whether any investigations have been or are being undertaken with a view of establishing culpability or complicity on the part of the Central Bank of Kenya (CBK) or any of its officers in aiding and abetting the scandal,” he said.

Banks that the committee says received transactions running into billions of shillings directly linked to NYS during the period under review which ranges from 2013 to date, are Equity Bank, Diamond Trust Bank, Standard Chartered, Kenya Commercial Bank, Co-operative Bank, Barclays Bank, Family Bank Consolidated Bank, First Community Bank and Bank of Baroda.

Others are African Bank Corporation, I&M, Paramount Universal Bank, Transnational Bank, National Bank of Kenya, NIC Bank, Chase Bank Ltd, Bank of Africa, Housing Finance Ltd, Jamii Bora, Sidian, Gulf African Bank, Commercial Bank of Africa, Jairo Bank, Eco Bank, Fidelity Commercial Bank, CfC-Stanbic Bank, Old Mutual and Guarantee Trust Bank.

This comes after the Financial Report Centre (FRC) at the beginning of this month reckoned that 15 of the country’s 41 banks raised 42 alerts over suspicious transactions relating to the NYS funds that were stolen through fictitious tenders.

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