Ex- Safaricom board chair John Ngumi is one of the highly profiled bankers in Kenya and has worked in the banking sector since the 1980s.

He has worked in various organizations, including Kenya Pipeline Company, Konza Technopolis Development Authority, Communication Authority of Kenya, Stanbic Bank, Citibank, and Barclays, among others.

In a recent heated interview at the National Assembly, Ngumi revealed how he made sh 415 Million in Just 5 months, between April 1, 2022, and August 31, 2022.

According to reports, Ngumi was paid $3.07 million by Jamhuri Holdings Limited (JHL) for his role in advising on the government’s acquisition of Telkom Kenya Limited for Sh6.2 billion.

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Speaking during the joint sitting of the National Assembly  Committees on Finance and National Planning and Communication, Information and Innovation, Molo MP Kimani Kuria, who chairs the committee, questioned  Ngumi’s advisory skills that would make him get 3,071,163 USD (sh415 million) in a period of 5 months.

In his response, Ngumi said he was well deserved for the pay as JHL needed high-level advice to invest to avoid making mistakes.

“I was paid because I am the best in business, and I had already helped Helios revive a company that was on its deathbed. They valued my advice against taking legal action against the Government of Kenya,’’  he said.

Ngumi has been working at Helios Investors Limited as a strategic advisor since 2016. He explained that JHL being a company run by funds raised by Helios, is how his existence at the firm was birthed.

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The government is said to have paid Sh6.2 billion without the approval of the National Assembly to Helios Investors LLP through JHL, its Special Purpose Vehicle (SPV), in August last year.

The payment was made to the JHL bank accounts in Mauritius before hitting  Ngumi’s offshore accounts.

Ngumi was the biggest beneficiary of the transaction compared to the $1 million that JHL received, Sh54 million paid to Anjarwalla and Company Advocates, and the $1 million to Investment Bank and employees of the Telco.