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Breach of contract lands stockbroker in trouble

by Nyakundi Nyamboga

Seven years ago, National Social Security Fund (NSSF) bought a Treasury Bill — TB 1471, which would have earned it Sh256 million at its maturity on August 26, 2002. However, Central Bank of Kenya (CBK), without valid authority from NSSF, rediscounted the Bill before its maturity date.

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