Imperial Bank Limited depositor’s stage demo outside imperial bank headquarters in Nairobi to express frustration one year since the Bank was placed under receivership by Central Bank of Kenya on Thursday,October 13, 2016.
BY SAM ALFAN.
Imperial Bank Limited’s non-directors have demanded that Kenya Deposit Insurance Corporation (KDIC) and Central Bank of Kenya (CBK) be compelled to make all report by FTI Consulting Limited public.
This comes as depositors’ staged demo at imperial bank Headquarter in Nairobi to express frustration they have undergone for a year since the closure of the bank by CBK.
They are seeking orders compelling KDIC and CBK to make public the report by an international forensic audit investigation firm appointed by the CBK to carry out “a detailed and in-depth forensic audit on the purported fraud committed on the Bank.”
They alleged the FTI Consulting Report and the substratum of the case rest on various allegations and findings allegedly contained in the Report, which KDIC and CBK have not produced to substantiate their allegations.
FTI Consulting was initially engaged by the bank managers to conduct in-depth investigations into the affairs of the bank. FTI Consulting thereafter submitted an initial investigation report and the same did not allude to the fraud, negligence and/ or generally the findings as alluded to by KDIC and CBK.
“The allegations made by KDIC and CBK are therefore unsupported and unfounded,” said the directors in court papers.
They said that KDIC and CBK’s application having been certified as urgent, they (former Imperial bank directors) have proceeded to file their responses. However, the vague, general and unsupported allegations contained within the case filed by CBK and KDIC have prejudiced them.
“This has made it difficult for us to aptly respond to the said allegations, by reason of which it is necessary for the Court to give directions on this issue,” said the directors.
They want the orders they are seeking granted to enable the court to have before it all such material as is necessary for a fair, just and expeditious hearing and disposal of the case.
KDIC and CBK filed a case against the directors seeking to recover Sh45 billion.
