Bank managers go under after arrest order

April 9, 2016 1:50 pm
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Boinnet said he wants the officials questioned over fraudulent activities at the financial institutions they served, with a view to pressing charges. Photo/MIKE KARIUKI.
Boinnet said he wants the officials questioned over fraudulent activities at the financial institutions they served, with a view to pressing charges. Photo/MIKE KARIUKI.
NAIROBI, Kenya Apr 9 – The hunt for six top managers of Chase Bank and National Bank is still on, a day after Inspector General of Police Joseph Boinnet ordered for their arrest.

Boinnet told Capital FM News on Saturday that none of the managers had been arrested, and confirmed that they are being sought.

“The search for these bank managers is still going on, they can run but they can’t hide,” Boinnet said.
The Directorate of Criminal Investigations boss Ndegwa Muhoro too said none of the managers had presented himself to the police as ordered by the IG on Friday.

Boinnet said he wants the officials questioned over fraudulent activities at the financial institutions they served, with a view to pressing charges.

Those facing immediate arrest on the instructions of Inspector General of Police Joseph Boinnet are Munir Moahmmed of National Bank, Boniface Biko, Mohammed Abdalla, George Jaba, Wycliffe Kivunira and Chris Kisire.

Others to be arrested are immediate former Chase Bank chairman Zuffrullah Khan and Duncan Kabui who was the managing director.

It is understood that some have already retained lawyers to try secure anticipatory bails to avoid the embarrassment of having to be locked up in police custody once they are arrested.

The Chase bank officials are wanted for questionable financial dealings in the financial institution that led to its collapse on Thursday when the Central Bank of Kenya (CBK) placed it under receivership.

The CBK had questioned its financial records which showed undeclared loans amounting Sh16 billion to top directors and staff against the laid down regulations for banks, while National Bank officials are wanted for questioning on what led to the losses declared by the bank recently after financial irregularities.

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