Sunday December 9, 2018-8 Kenyan banks have secretly admitted to aiding and abetting the looting at the National Youth Service.
Speaking during a Plea Bargaining workshop in Naivasha on Friday, Director of Public Prosecution, Noordin Haji revealed the 8 implicated financial institutions agreed to pay KSh 300 million fine after they pleaded guilty to facilitating corruption at NYS in order to avoid the protracted legal battle with the State which would have dented their image.
"Eight banks in NYS 2 case had pleaded guilty and entered into plea barging agreement with his office to pay sh 300 million and one was in the process of complying with the agreement," Haji said.
This comes even as Central Bank Governor, Patrick Njoroge, has warned banks engaging in corruption of serious consequences.
Among the 8 banks which have agreed to corruption include;-
1. Equity Group (KSh 89.5 million fine)
2. Kenya Commercial Bank (KCB) (KSh 149.5 fine)
3. Co-operative Bank (KSh 20 million fine)
4. Standard Chartered Bank (KSh 77.5 million fine)
5. Diamond Trust Bank (DTB) (KSh 56 million)
The Kenyan DAILY POST