The Central Bank of Kenya (CBK) and the State anti-dirty cash watchdog, the Financial Reporting Centre, are in a tight spot yet again as details of the multi-billion scandal at the National Youth Service continue to emerge.
Preliminary findings in the Sh9 billion fraud claims at the youth agency, according to police accounts, show that multiple payments running into tens of millions of shillings were authorised from the Integrated Financial Management Information System (IFMIS) to the involved companies’ accounts at intervals, releasing the whole amount in less than an hour after it was asked for.
