Nairobi Governor Kidero sues CMA for investigating his bank accounts

Nairobi Governor Evans Kidero

Nairobi Governor Evans Kidero has sued the Capital Markets Authority (CMA) for investigating his bank accounts in relation to the collapse of Mumias Sugar Company.

Dr Kidero claimed on Thursday the regulator's sudden decision to investigate him just a few days to the elections was politically instigated and meant to portray him as a corrupt leader.

"It is clear as the crystal sun that I am a victim of a well-schemed script to have me harassed and cowed by different Government agencies being used by my political opponents to achieve a political outcome and do away with me as an able governor," said the governor.

He accused CMA of tricking him into having a discussion on possible solutions to revive Mumias Sugar Company, only for the regulator to use the information as the basis to investigate his bank accounts.

Through senior counsel Prof Tom Ojienda, Kidero told the court CMA invited him to a meeting in November 2015 for an explanation on governance practices used by Mumias Sugar Company when he was the managing director from 2002 to 2012.

"It was with utter shock that we learned on July 20 that CMA had illegally and in blatant show of bad faith orchestrated a move to investigate Dr Kidero's bank accounts from 2006 to 2016 without any notification as required by law," said Prof Ojienda.

He said an audit report commissioned by CMA had proved no money was lost during Dr Kidero's tenure at Mumias Sugar and wondered why they waited until a few days to the elections to apply to the anti-banking fraud unit to have the accounts investigated. "In any case, they did not ask Dr Kidero to provide his bank statements."