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KCB Bank CEO Joshua Oigara

The Senate wants KCB Bank CEO Joshua Oigara to appear before it to answer to the irregular withdrawal of Sh300 million in cash from Nairobi County Government’s account.

Senate Majority Whip Irungu Kang’ata and Nandi Senator Samson Cherargei further want Oigara to explain how the lender allowed the irregular withdrawal, that was done without proper documentation.

“The withdrawals were against the Banking Act and the CBK regulations,” Cherargei said.  

It also amounts to undermining the war on corruption. The duo wants the bank chief to appear before the County Public Accounts and Investments Committee.

Sources intimate that Oigara doesn’t care much about financial impropriety since he is used to such illegal transfers.

The 2016, The Sentry report accused Joshua Oigara among other bank chiefs of laundering billions of shillings for South-Sudan elites and military chiefs.

In 2018, The Sentry also fingered KCB among other Kenyan banks as enablers of money laundering in the South Sudan therefore fueling atrocities in that country.

National Youth Service (NYS) Scandal where millions of money passed through KCB branches is also another activity that attests to Mr Oigara’s incompetence and shady dealings.

The bank’s CEO escaped after paying some fines and bribes to the state.

Auditor General

 The duo spoke after Nairobi Governor Mike Sonko appeared before the County Public Accounts and Investments Committee to respond to audit queries for the county for the 2017/18 Financial Year.

However, the committee’s session with the governor could not proceed, as he is not able to access crucial information on finances owing to the court order that bars him from accessing his office pending the determination of the corruption charges facing him. 

The Auditor-General’s office, in its report, had flagged out that the Bank allowed the county executive to withdraw Sh206 million at one instance for unspecified payments, which were not supported, by appropriated authority or documentation.