CBK hits back at Mweni over bonds theft case
The Central Bank of Kenya building in Nairobi. A blacklisted bonds trader claims that CBK staff connived with stockbrokers and investment bankers to steal government securities. CBK has applied to be enjoined in a case in which a blacklisted bonds trader, Fred Mweni, has claimed that CBK staff connived with stockbrokers and investment bankers to steal government securities.
“The integrity of the Central Bank has been challenged by the applicant and the bank is now obligated to defend itself,” says Kennedy Abuga, a CBK director, in an affidavit filed in court on May 17. “It is critical that Central Bank of Kenya makes a complete answer to the accusations failing which the accusations may be taken as indicative of the truth,” he added.... Read the full, comprehensive news article and discuss at Business Daily Africa