The total number of local banks suspected to have been involved in transactions of Sh. 1.6 billion stolen from the National Youth Service (NYS) has increased to 27.
This is after 16 more banks were linked to the scam. According to PAC chairman Nicholas Gumbo, Equity, Diamond, Standard Chartered, I&M, Chase, Bank of Africa, Jamii Bora, Fidelity and Guarantee banks were among banks that received money.
This comes after Central Bank Governor Patrick Njoroge endorsed the prosecution of top Family Bank officials over the fraud at the National Youth Service.
Njoroge wants the bank and its senior staff punished for failing to report to the Financial Reporting Centre the significant transactions by NYS suspects.
