Auditor-General Edward Ouko. FILE PHOTO | NMG
The administrator of estates of deceased persons is on the spot
over Sh75 million that was deposited in the collapsed Imperial Bank.
The
millions, which are held in trust of the beneficiaries, was deposited
at Imperial Bank before it went under, Auditor-General Edward Ouko said
in his latest report on the financial statements of the Public Trustee
of Kenya.
“In the circumstances, the recoverability of the deposit of Sh75 million could not be ascertained.”
The
Central Bank of Kenya put the lender under the management and control
of the Kenya Deposit Insurance Corporation in October 2015 for an
initial period of 12 months, and the receivership has since extended.
This was after Imperial’s board alerted authorities to suspected
malpractice — which led to the loss of Sh29 billion deposits.
KCB Group
expects to acquire some Imperial Bank assets, including part of the lender’s loans books and branches.
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