Former bank boss gets reprieve in case with markets regulator

The National Bank of Kenya (NBK) Managing Director and CEO Munir Sheikh Ahmed (centre) when he appeared before the Parliamentary Investment Committee at the Parliament Buildings, Nairobi. [Elvis Ogina/Standard]

The High Court in Nairobi has declined to expunge parts of minutes by the Capital Markets Authority (CMA) on why it surcharged former National Bank of Kenya boss Munir Ahmed for allegedly cooking the lender’s books.

Justice Pauline Nyamweya in her ruling said the minutes were critical to the case filed by Mr Ahmed as they would give a full picture of how the decision to punish him was reached.