, NAIROBI, Kenya, Nov 16 – President Uhuru Kenyatta has reiterated the government’s commitment to safeguard the National Youth Service (NYS) in a bid to completely rid it of corruption.
Speaking during the passing out parade of over 16,000 NYS recruits Friday, the Head of State indicated that no public servant will be allowed to misuse funds set aside to help young people.
He stressed that his administration will be vigilant to completely root out the vice.
“I want to take this opportunity to promise you today that we will do everything in our power to ensure that all of those who have taken resources meant for the development of our young people will pay the price and those resources returned. We will not and we cannot continue to allow this kind of behaviour,” he warned.
“We will not allow money for procurement, funds meant to help our young people to be pocketed by unscrupulous individuals,” he said.
“We must ensure that we properly utilise the resources that the Kenyan taxpayer has given us for the benefit of the people of this Republic most importantly these young men and women in front of us and the many millions in Kenya today.”
He commended the NYS for the hard work it is undertaking on behalf of the country and stated that it will not go unnoticed.
“I also commend all the young men and women today for your achievement. If you hold first the lessons you have learnt, the patriotism, the love of work and the spirit of service, you will indeed succeed and most importantly, you will have repaid the faith that your country and we as your parents have shown in you, so go forth and serve your country,” he said.
His statement came as the Central Bank of Kenya (CBK) declined to reverse the Sh392 million penalties slapped on five banks implicated in the NYS scam.
In a statement, the CBK observed that the banks’ responses challenging an order to fine them were not sufficient to alter the initial findings of the investigations and the penalties imposed.
It stressed that the actions taken are aimed at safeguarding stakeholders’ interests and maintaining a healthy financial sector.
The banks penalised include Standard Chartered Bank, Equity Group, KCB Group, Co-operative Bank of Kenya Ltd, and Diamond Trust Bank.
KCB Group has been penalized the highest at Sh149.5 million followed by Equity Bank at Sh89.5 million while Standard Chartered Bank will pay Sh77.5 million.
DTB was fined Sh56 million while Co-operative Bank will pay Sh20 million.
Former Youth and Gender Principal Secretary Lillian Omollo and former NYS Director General Richard Ndubai are among the suspects implicated in the scandal.