National Bank finally sacks three executives
A National Bank branch in Nyeri town. The bank has sacked three executives implicated in fraudulent deals. FILE PHOTO |
What you need to know:
- The board appointed Reuben Koech as acting director for corporate, institution and business banking.
- DCI boss Ndegwa Muhoro told journalists that detectives were investigating reports of illegal loans, high staff turnover and audit-related issues.
National Bank of Kenya has finally dismissed three executives implicated in fraudulent deals.
A statement from the bank’s board of directors said it sacked suspended managing director Munir Ahmed, chief finance officer Chris Kisire and executive director for corporate, institution and business banking Boniface Biko.
The board named Wilfred Musau acting chief executive officer while Henry Maosa becomes the acting chief finance officer.
Mr Musau has been acting CEO since Mr Ahmed was suspended late last month over questionable deals at NBK.
The board appointed Reuben Koech as acting director for corporate, institution and business banking.
Mr Ahmed and Mr Kisire were questioned by Directorate of Criminal Investigations detectives three weeks ago.
DCI boss Ndegwa Muhoro told journalists that detectives were investigating reports of illegal loans, high staff turnover and audit-related issues.
“We are also investigating a wide range of offences, ranging from money laundering and theft by the directors and other employees,” the DCI head said.
Others questioned include chief credit officer George Jaba and chief finance officer Wycliff Kivunira.
“We are looking into a number of malpractices. However, it has not been decided if they will be taken to court,” Mr Muhoro said.
He revealed that a team drawn from the economic crimes and serious crimes units had been formed to investigate mismanagement and questionable deals at the bank.
