Central Bank of Kenya, Governor Dr. Patrick Njoroge urged to resign for failure to stop the NYS scam.

Martin Oduor

November 15, 2016 2:20 PM

Kenyans go on twitter to demand the resignation of Central Bank of Kenya, Governor Dr. Patrick Njoroge for failure to stop the NYS scam.

Kenyans have gone on twitter under the hashtag #ResignNjoroge, to vent out and demand the resignation of Central Bank of Kenya, Governor Dr. Patrick Njoroge for failure to stop the NYS scam.

This is after fresh reports have surfaced up and revealed that more than 16 banks were linked in the Ksh1.6 billion National Youth Service (NYS).

Parliamentary Accounts Committee (PAC) chairman Nicholas Gumbo said in parliament on Tuesday that the committee will request the Director of Criminal Investigations and Ethics and Anti-Corruption Commission to look into the transactions.

“More than 100 firms are involved in the NYS scam, the total number of banks involved are 27 and 11 have been already cleared” he said as quoted by the star.

Mr. Gumbo revealed that some of the banks mentioned in the NYS scandal which reportedly handled the money for suppliers since 2013, include, Equity, Diamond, Standard Charted, I&M. Chase, Bank of Africa, Jamii Bora, Fidelity and Guarantee bank.

Kenyans are furious at the CBK governor for allegedly presiding over a corrupt system without fining and deregistering the mentioned banks.

On August this year when the Dr. Njoroge appeared before the PAC he failed to convince the committee that he was innocent and not aware of the money transactions.

The committee told the governor there was no way money could have been lost without being detected by the Banking Fraud Unit, a department at CBK.

“We have the Crimes and Anti-Money Laundering Law that should monitor the activities of the financial institutions to detect instances of shady dealings. He (governor) should have asked what people are being paid for,” The Rarieda Mp told Dr. Njoroge as reported by the star.

Initially, Dr. Njoroge has only endorsed the prosecution of top Family Bank officials over the Sh1.6 billion NYS scandal, and with these new evidence it is not yet known whether he will call for the prosecutions of the remaining 15 banks.

Martin Oduor