CBK bank fines grow 20 times on NYS scam

Central Bank of Kenya (CBK). FILE PHOTO | NMG

Central Bank of Kenya (CBK) kitty that holds fines paid by banks in breach of regulations swell 20 times on the back of penalties lenders paid for hiding suspicious in connection with the theft of funds at the National Youth Service (NYS).

CBK financial statements, which was released Friday, indicate that fines kitty had Sh420 million in the year to June 2019.

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Note: The results are not exact but very close to the actual.