Former National Bank of Kenya chief finance officer Chris Chepkoit
Kisire in a Nairobi Court on May 23, 2017. FILE PHOTO | PAUL WAWERU |
NMG
Former National Bank of Kenya chief finance
officer Chris Kisire has shifted blame to the board in an ongoing fraud
case that is estimated to have cost the lender close to Sh1 billion.
Mr
Kisire claims that the National Bank of Kenya (NBK) board developed and
approved a deposit mobilisation scheme through which about Sh991.5 was
paid to two consultancies; Edge Capital Consultancy and Advest Company
Limited.
Mr Kisire was among eight former senior NBK
managers who were in April punished by the capital markets regulator for
falsifying books and stealing close to Sh1 billion.
The regulator, Capital Markets Authority (CMA), recommended their prosecution.
“The allegations made against the petitioner relate to steps,
decisions and or actions which could and or were in fact taken by
persons other than the petitioner; which persons were not subject to any
control or direction of the petitioner i.e. the NBK board and the NBK
Head of Treasury department,” he says.
“The first
respondent therefore seeks to hold the petitioner directly liable for
misdeeds of others, contrary to a long-standing legal principle that
criminal culpability must be personal and direct, not inferred.”
He
denies having given instructions to Edge Capital and Advest Company to
pay any senior executives or having received any kickbacks from the two
companies.
Mr Kisire says he was not involved in any
way in sourcing the two companies when they were engaged to lead a
deposit mobilisation programme.
Under the programme,
the lender paid the two huge commissions for helping drive up money
deposits by the lender’s clients, payments which CMA said was irregular.
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