The Kenya Commercial Bank CEO Joshua Oigara will be investigated and prosecuted, highly placed sources at the office of Director of Public Prosecutions has confirmed to us.
This is happening as pressure mounts on KCB International partners to demand a change in management within the bank, over South-Sudan money laundering. The partners are finding it hard to do business with a partner always in the news negatively, over many scandals.
Two weeks ago, DPP Noordin Haji officially received a letter from lobby group Concern Citizens Kenya demanding the arrest and prosecution of Mr Joshua Oigara. The group had also threatened to hold public protests against Mr Oigara if action is not taken on the same.
In the letter, Oigara and his KCB counterparts are accused of unlawful issuance of loans totalling to Ksh. 1.2 billion to Weston Hotel in order to facilitate its operations despite the hotel sitting on an irregularly acquired piece of land without a title deed.
The land that Weston Hotel sits on was unlawfully acquired from the Kenya Civil Aviation Authority (KCCA) and during the issuance of these loans by KCB, the land’s title deed was not presented. This would, therefore, mean that Joshua Oigara issued a Ksh. 1.2 billion loan against an inexistent title deed.
Considering such huge loans cannot be issued without the official approvals of KCB C.E.O and Group M.D, the blame is solely on Oigara and the group’s managing director who colluded with other top government officials to award Weston Hotel these loans without following due diligence at the expense of taxpayers.
Our source from the office of DPP tells us that the matter is being treated with the seriousness it deserves as the KCB bankers that also helped launder NYS proceeds of crime risk jail as Noordin Haji plans to charge them.
Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.