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Probe auditor over sale of troubled Spire Bank, MPs say

Spire Bank's Chester House Branch, Nairobi. [Wilberforce Okwiri, Standard]

Members of Parliament want to open an investigation into how auditing firm Ernst & Young (EY) handled the financial statements of troubled Spire Bank before the lender was bought by the giant teachers' savings society, Mwalimu National Sacco.

The National Assembly Departmental Committee on Finance and National Planning has also questioned the recent deal which saw Equity Bank buy the troubled lender "for a song".

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