National Bank is fine, says lender’s board

Tuesday June 23 2015

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Six board members of the National Bank of Kenya on Tuesday stood behind the bank’s chief executive, Mr Munir Ahmed, following allegations of mismanagement and questionable business dealings by the lender.

Led by Chairman Mohammed Hassan, the panel sought to dismiss the various claims around the five-year transformation strategy by the bank, which has raised questions regarding heightened staff exits and the sale of bank assets, among others.

“Anyone making these allegations is malicious. We take matters of characters very seriously and will consider appropriate legal action. We are running a change process and this is expected,” said Mr Hassan.

The board — whose members included Cotu Secretary General Francis Atwoli and Ms Beatrice Gathirwa, who represented the Treasury — said allegations of staff mistreatment, questionable money transfers and conflict of interest in the bank, were malicious, untrue and unfortunate.

A statement later sent to newsrooms, however, said unnamed persons were to blame for the stories, hinting at a possible internal discomfort in the bank’s transformation agenda.

Mr Atwoli, who chairs the human resources board committee defended the staff exit modalities as fair and wondered why no one had taken the bank to court over mistreatment or unfair dismissal.