The Central Bank Of Kenya governor is under the spotlight for sleeping on his Job despite many complaints about the Okash Loan App that has been violating users privacy exposing the lender that says they will crack down on some of these rogue apps with one hand while the other benefits.
The governor, who was named as the mastermind of NYS season one by PAC seems to have let the industry govern itself.
The CBK has the legal mandate to regulate digital platforms that only dish out loans and was a few days ago issuing threats that they will Initiate tougher rules on a mostly unregulated digital lending platform extorting Kenyas.
Money Lending App Okash Under The Spotlight For Exploiting And Infringing On Kenyans Privacy
Opera Software launched OKash, a micro-loan service, in Kenya a few years ago. Apart from giving loans at exorbitant interest rates, they have been accused of intruding on Kenyans privacy by texting relatives, friends and even your boss demanding that one repays their loan even before the due date.
Opera Managing Director Eddie Ndichu, another corporate Nairobi fraudster is known to bribe low-rated blogs like Kenya Wall Street to campaign for the app in order to extort more Kenyans.
Kenyans are now urging the CBK governor to spend less them at the mirror and act on this concern
