National Bank of Kenya (NBK) suspended its chief finance officer, Mr Chris Kisire to let him clear his name of corruption allegations while he served in the same capacity at Mumias Sugar.
The bank said it had consulted with the Central Bank of Kenya (CBK), the government, its lawyers and Mr Kisire before sending him on compulsory suspension.
“When he came to National Bank, the bank was looking for an experienced CFO – with experience working with listed companies – to support our transformation agenda. We reviewed his work at The Standard group, DHL, Mumias among other blues chip companies and he had the qualifications we sought. He has been doing his job well before this Mumias saga broke,” the bank said.
National Bank said as a responsible employer, it consulted with the Central Bank of Kenya, the government, its lawyers and Mr. Kisire before sending him on compulsory suspension to allow him time clear to his name. The bank said Mr. Kesire served well and that they wished him all the best in clearing his name.
National Bank says main challenge has been the delayed approval of the Rights Issue which, according to the strategic plan was to inject Sh13 Billion by July 2014 into the bank to further support its rapid growth. Shareholders approved the resolution in its June 2013 AGM and CMA is awaiting Treasury’s approval.
