EXPOSED: cooperative bank in suspicious acquisition of troubled jamii bora bank
Alot of details have emerged on how Cooperative bank is plotting to illegally take over the non-performing Jamii Bora Bank gains pace, analysts are worried about due diligence done by Cooperative Bank which has in the past been hit by cases of fraud perpetrated by bank employees who work in cahoots with external persons to obtain money from the bank.
The Gideon Muriuki led Bank is on the spot as having weaknesses in its IT systems, which was attributed to sources within the bank.
Co-operative Bank has reported erratic systems of poor quality and that explains for instance the constant system hitches.
“The former bank chairman’s sons are said to have supplied IT systems to the bank. The same family have also been rumoured to be supplying and tendering with the ba...