Reprieve for ex-NBK boss as Sh5m CMA fine halted

The High Court has a long history of financial management (CMA) from demanding National Bank of Kenya (NBK) managing director Munir Ahmed for his alleged [Pauline Nyamweya] Pauline Nyamweya

Pauline Nyamweya Wednesday, June 9, 2009 (Translated from the original French version of)

Mr. Munir, Chairman of the Board of Directors, Chairman of the Board of Directors, Chairman of the Board of Directors penalties the agency imposed on him for his alleged involvement in scandals.

"In the meantime Decision of April 3, 2018 Imposing a financial penalty of Sh5 million against the applicant pending inter hearing on July 30, 2018, ordered Justice Nyamweya

The CMA asked for more time to respond and the request was granted. The President of the United States of America.

The regulator found that NBK 's executive executives set up a deposit mobilization scheme where commissions were paid to private agents in the normal course of business.

Up to 90 percent of those commissions may have been issued to NBK, the regulator said.

Mr Munir says the CMA's sanctions were part of a scheme to make the sacrificial lamb in order to protect Other members of the board in the Sh1 billion scam.

The NBK managing director says in short papers that the CMA's actions are meant to sacrifice him and to sanitize the lender's board of membership to the Treasury Cabinet Secretary, adding that the CS is also a member of the CMA board.