Home BUSINESS Names of Family Bank Managers connected to Sh 791M NYS Fraud

Names of Family Bank Managers connected to Sh 791M NYS Fraud

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Customers queue for service at a Family Bank banking hall along Kenyatta Avenue. SALATON NJAU

Seven Family Bank Managers may soon find themselves in jail following reports linking them to the Sh 791 million mega corruption at the National Youth Service.

It is alleged that the seven Managers of Family Bank KTDA House allowed corrupt individuals from NYS and Ministry of Devolution to deposit huge sums of money at the bank contrary to the law requiring them to report to the Central bank in case an individual deposits more than $10,000 at once.

The Director of Public Prosecution Keriako Tobiko has ordered the managers to record a statement at the CID headquarters on Kiambu Road.

It has been established that the Sh 791 million was deposited at Family Bank and later redistributed to 20 accounts in different banks. Part of the money was used to buy shares worth Sh 103 million at Family Bank; it is believed a senior officer at the Ministry of Devolution bought the shares.

Below is a list of the managers to face charges of money laundering

Robert Oscar Nyaga (branch manager), Josephine Njeri Waira (branch customers’ service supervisor), Martin Kagiri (operations supervisor), Meldon Onyango (relationship manager) and Nancy Njambi, the platinum manager and head of risk and compliance department.