Banks offered me millions to drop law capping interest rates, claims MP

Kiambu MP Jude Njomo explains a point during an interview with Weekend Business. [PHOTO: FELIX KAVII/STANDARD]

In what could throw the banking sector into a spin, Kiambu MP Jude Njomo has sensationally claimed that banks tried to bribe him to drop the new law capping interest rates.

Mr Njomo, who sponsored the Banking (Amendment) Bill (2016), that was signed into law by President Uhuru Kenyatta last month, in an interview with Weekend Business alleged that several banks used proxies to persuade him withdraw the Bill but he stood his ground.