Standard Chartered Bank #ticker:SCBK has terminated two bank accounts linked to companies of a businessman alleged to have received Sh1.61 billion from National Youth Service (NYS).
In a letter to Assets Recovery Agency (ARA), the lender said it was terminating two accounts holding about Sh4.3 million by June 30, forcing ARA to seek an order for funds to be transferred to its account at KCB #ticker:KCB, KICC branch. A further Sh2.9 million is being held at Equity Bank #ticker:EQTY.
