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CBK Governor Patrick Njoroge summoned over contempt of court

COUNTIES
By Faith Karanja | February 22nd 2017
High Court judge George Odunga issued the summons yesterday. They have 30 days to present themselves before court.PHOTO:COURTESY

Central Bank of Kenya (CBK) boss Patrick Njoroge has been summoned over alleged contempt of court.

Dr Njoroge is expected in court to show because why contempt of court proceedings should not be commenced against him.

Also summoned was Kenya Deposits Insurance Corporation (KDIC) boss Mahmoud Mohammed and CBK board members Kamau Thugge, Attorney General Githu Muigai, Nasim Devji, Jeremy I. Ngunze and Samuel N. Kimani.

High Court judge George Odunga issued the summons yesterday. They have 30 days to present themselves before court.

In the case, Imperial Bank shareholders want Njoroge and KDIC board members jailed for six months or be fined, for failing to furnish them with information of the bank's status and possible revival plans.

In November last year, Justice George Odunga directed CBK and KDIC to engage sector players and depositors on how to revive the lender that has been under statutory management since October 2015.

Players also want a case CBK filed seeking to freeze their assets dismissed, terming it scandalous. CBK and KDIC sought to freeze some accounts to recover Sh42 billion.

"The application to freeze the assets is an abuse of court process since CBK did not disclose any loss of money caused by us," they said in court documents.

 

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