More questions than answers as DCI discovers Sh2 billion “fake currency” at Barclays Bank

Questions have continued to raise after it emerged that officers working for the Director of Criminal Investigations (DCI) had discovered over Sh2 billion of fake currency at Barclays Bank, Queensway Bank in Nairobi CBD.

DCI officers, including members of the dreaded members of flying squad camped at the busy branch after a client was reportedly intercepted with fake currency.

The flying squad officers are reported to have visited the suspect’s safe deposit box which DCI George Kinoti said contained at least Sh2 billion in fake US dollars.

The Director of Criminal Investigations George Kinoti Pulse Live Kenya

Barclays Bank Statement

Barclays Bank has since issued a statement, explaining the incident that interrupted business at one of their busiest branches.

“A customer who holds a personal safe deposit box at our Queensway branch was this morning intercepted by police at the branch. Police are currently investigating the contents of his safe deposit box. We are assisting the authorities to investigate this matter fully,” Barclays Bank said in a brief press statement.

K24 and Citizen, who initially broke the story had reported that Sh17 billion had been recovered but corrected a few hours later.

Nearly four hours after the incident was first reported, the DCI had not formally issued a statement but various media houses including Nation and Capital FM, quoted him saying they had collected fake dollars with a value of at least Sh2 billion.

Kenyans have continued to speculate on the identity of the owners of the illegal cash as well the circumstances that such a huge amount of fake cash found itself in a bank.

More questions than answers as DCI discovers Sh2 billion “fake currency” at Barclays Bank ece-auto-gen

David Ndii and Mutahi Ngunyi

Economist and public intellectual David Ndii wondered if the raid was part of the DCI’s strategy to seize money belonging to a politician.

“Something is not adding up with these huge fake currency hauls. If there was that much fake currency around, we would be encountering it more frequently in circulation. Could this be a cover for confiscating a certain politician’s cash hoard? Just wondering,” Ndii wrote on Twitter.

Political analyst Mutahi Ngunyi also added his voice, questioning the narrative that the currency was fake.

“This 17 BILLION story DOES not ADD up. It is EITHER a game or COUNTRY is ROTTEN to the CORE and from the CORE. 'Barclays Bank',” Ngunyi said.

Lawyer Donald Kipkorir called on action to be taken against the bank if it was found to have engaged in illegal activities related to the Arror and Kimwarer dams.

“If money stolen from Arror and Kimwarer Dams was wired back to Kenya through Barclays Bank Westlands Branch to be collected by Political Thieves & If it’s true Kshs. 17B in Fake Currency was found in Barclays Queensway, then CBK has no choice but close Barclays (ABSA) in Kenya,” the lawyer stated.