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NYS cases expose Central Bank limitations in policing lenders

Central Bank of Kenya Building on Haileselasie Road Nairobi. [Wilberforce Okwiri/Standard]

The Central Bank of Kenya has come under greater scrutiny over its ability to control the banking sector following the new push to prosecute bank executives over the Sh8 billion National Youth Service (NYS) scandal.

The theft of funds at NYS happened right under the nose of the regulator, with the movement of unusually large sums of money expected to have raised CBK’s suspicion.

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