Why MPs want Spire Bank sale deal to Equity cancelled

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

The saga surrounding Spire Bank's acquisition by Equity Bank deepened Tuesday after some MPs cast doubt over the process.

The legislators also want the Central Bank of Kenya (CBK) to come clean on its approval of the Assets and Liabilities Purchase Agreement, which saw Spire Bank pay Equity Bank Sh1.7 billion to cover the liabilities it acquired from the troubled lender.