Caption : Sacked National Bank of Kenya CEO Munir Ahmed. Munir and Company Looted National bank but they are walking free . Munir’s cartels are still in control of National Bank of Kenya as CBK watches, issuing empty threats.
Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) stood by and watched as Imperial Bank, Dubai Bank and Chase Bank stole people’s money. They said nothing and only came running last minute, acting like they were so concerned, yet officials from the two institutions were bribed to turn a blind eye on the corporate malaise.
The immediate former members of the Kenya Airline Pilots Association (KALPA) together with CMA remained silence even as Kenya Airways was looted to its death by Titus Naikuni and now Mbuvi Ngunze. They were beneficiaries from the fraud, but the long-term compounded losses to the country will be far much more than the money they stole.
We all saw Titus Naikuni construct the Ole Sereni Hotel and another one on your way to Namanga using money stolen from Kenya Airways. The CMA is not bothered to attach property owned by Naikuni as a means of recovering this debt.
Media polished Governor Evans Kidero’s image even after he looted Mumias Sugar Company and caused the country to lose revenue and workers in the sugar-belt to lose jobs.
This is a rotten system that has to be demolished. And the process starts now.
NATIONAL BANK OF KENYA is expected to hold this year’s Annual General Meeting (AGM) on Friday 3rd June, 2016, this week at the K.I.C.C. Amphitheater Hall.
The Bank dismissed top six directors two months ago and some other directors were expected to go plus the Board of Directors (BOD) pending internal forensic audit which is almost complete.
Caption: Mohammed Hassan Chairman of National Bank. He forged his ID and is an Australian passport holder. The sanctimonious Central Bank Governor Patrick Njoroge has been unable to force Hassan’s resignation, casting doubt on his overrated efficiency and commitment to clean up the banking sector.
The BOD Chairman, Mr. Hassan Mohamed, other Board members and the remaining internal directors led by the Ag. MD/CEO, Wilfred Musau, are currently working round the clock to be retained at National Bank by the shareholders at the AGM.
The following has been going on:-
The Company Secretary/Director Legal, Mr. Habil Waswani, on 26/5/2016 – Thursday, held secret meetings with known noisy NBK shareholders (Mr. A.W. Chami and another Asian) at the Bank’s 6th floor. Sources say Mr. Waswani met them for over two hours and made sure he silenced them with good monetary settlements. They are also supposed to engage the AGM with the chairman with unnecessary questions in order to bar the other shareholders, who are not in the deal, from taking part in the meeting.
*This can be confirmed from the CCTV footage of the Bank on Thursday, 26/5/2016.
The board of national bank was sponsored for a foreign trip to Helsinki Finland basically to strategize on how to survive to counter the forthcoming AGM to be held on 3rd June, 2016 at KICC. The bank paid for the travel, accommodation and also paid for their per diem. For national bank to revive from a near collapse the current board of directors should be disbanded and a new one brought on board.
Staff aligned to Munir have also been awarded hefty salary increments effective 1/4/2016 paid with May 2016 salary. It looks like Munir despite being sacked is still running the Bank from the backyard. A few staff have been sacrificed in place of the directors who were to be sacked e.g. Thomas Gachie, Maingi Kaumbuthu, Bernadette Ngara, Cromwell Kedemi, Wilfred Musau, Musa Adan.
The sacked Munir has been paid a net salary of kshs. 22 million on 18/5/2016 as final payment before he is cleared. Sacked staff are never paid any dues. Ag. MD – Musau sneaked out Munir’s contract and amended to allow him to get the dues. The original contract did not allow for payment of any dues.
Caption :National Bank of Kenya’s Wilfred Musau
Ag. MD Masau doing mass recruitments e.g. Chief risk officer, Dir. ICT, CFO, director credit, head of assets, head of Diaspora, relationship managers and many others. Currently he has recruited Zipporah Maore – currently a relationship manager from KCB who is coming to National Bank as Head Of Assets/Workplace Banking. It’s a well known secret from KCB staff that Zipporah is Musau’s longtime girlfriend and she was at one time almost about to break Musau’s marriage. Musau came from KCB Moi Avenue where they used to work together.
Ag. Md Musau has recruited 46 staff from KCB to come and join him in national bank. Sources within KCB have confirmed that the 46 staff poached from KCB are openly braging that they are coming to national bank for money not to add any value. Ag. MD Musau is still acting and yet he has embarked on mass recruitment. Is there a difference between acting MD Musau and sacked MD Munir. When Munir was employed he went on a mass recruitment from Standard Chartered and poached substandard staffs that have now brought down the bank.
Many staff members (mainly from the old Marambii group) have been put on performance improvement plan (PIP) this month May 2016. This is a strategy for Musau and directors to send staff home so that they can recruit their cronies, girlfriends and relatives. Musau and directors have awarded themselves generous salary increment despite the fact that they earn over 6 (six) figure salaries. Musau has been earning KES 1.65 million.
Ag. MD Musau is Munir’s puppet and he’s practising the same management styles used by Munir. Musau was brought into national bank by Bonface Biko – the sacked Ex. Dir.Corporate and Institutional Banking. Biko is very close to Munir. Musau, biko and munir are always being seen currently in hotels strategizing how to run national bank. The are always at Tip Top Bar, Langata. National bank is on the bream of collapse, if the regulator needs to salvage the imminent collapse of national bank, it needs to bring on board an independent managing director who will not be aligned to Munir and whose agenda will be to revive the bank not to further plunge it. The bank will also need an experienced managing director who has sound on-job experience to revive the bank. Musau has never been a managing director in any organization, he was head of business banking at NIC and previously head of sme at KCB. He does not warrant to be managing director for a collapsing bank which at the moment needs a strategic experience managing director to turn it back into a profitable business venture.
Caption : National bank’s Director marketing & corporate communications Bernadette Ngara
Director marketing & corporate communications Bernadette Ngara is also another unqualified person to manage such a sensitive docket. She was a long time secretary at Smithklime Beecham where she was sacked. Her credentials in line with her role are wanting. Munir hand picked her so that she can help him to eat the humogous marketing, branding and corporate communications budget. Due to her insecurities of her credentials, she has mastered the art of nepotism and tribalism and has employed her relatives and lover to help her steal the banks money. The head of projects Andrew Karuku is her long time lover. Marketing and Design Manager James Kairo and Corporate Communications, and Website Digital Branding Patrick Kinyua are her close relatives. These were very junior staff at GT bank to warrant such senior and intellectually inclined positions.
Bernadette has positioned her people in the key moneyed positions in marketing, branding, corporate communications and projects so that she can steal from the bank, the only science that she understands is `stealing’ . By being brought to national bank by Munir, staff of national bank expected Bernadette to roll out strategic marketing, branding and communications concepts, she has not been able to do so because in the first place she does not understand these aspects and she only knows stealing from the company. Is this the calibre of high level that national bank requires as a director marketing & corporate communications?
When bernadette heard that Munir had been sacked she was so shocked because the two are friends in crime. She immediately fell sick and was admitted in Mater hospital. During her stay in hospital Munir was a frequent visitor to see Bernadette in hospital. They were always being seen talking and strategizing on how Bernadette can continue stealing from the bank whilst Munir is outside. This was noticed by doctors and nurses in the hospital. Munir is still running the bank from outside and he’s controlling Ag. MD Musau in everything that he wants done in the bank including continuous stealing of the marketing, branding, corporate communications and projects money via Bernadette.
Bernadette was key in `buying’ the media and faking various bank awards in favour of National Bank. She facilitated the buying off of the media and anti-Munir crusaders such as Okiyah Omtata. Okiya Omtata is part of the “evil society” functionaries, who preach water but drink wine. Payments were made in dollars arranged by head of treasury Solomon Alubala, now suspended.
Dismas Omondi, Director Human Resources is another puppet of Munir and current Ag. MD Musau. During his reign, staffs in National Bank have been so demotivated, fired, intimidated, and transferred anyhow. Dismas do not have a mind of his own, which is a requisite quality for top flying human resources professionals. He’s is manipulated and used to finish old staff. He has accepted to be a puppet of Munir and Ag. MD Musau. Dismas do not have the required qualifications to be a director hr of a reputable bank like national bank. His qualifications are in information technology engineering. What would such a person be occupying a HR position? National bank needs a qualified experienced human resources professional.
How can a bank make provisional profits after enormous growth in bad debts? Even a layman can read in between the lines! Is there any difference between Musau and Munir????????
FOR AS LONG THE REGULATOR TAKES HIS SWEET TIME TO PUT HIS FOOT FIRM, NATIONAL BANK IS HEADED FOR THE WORST!!!!!!!!!
Cyprian is a blogger who has an interest in politics, news, current affairs, people and anything that is of interest to society. My aim is to inform and update readers with the most accurate information.