Who Owns the Millions Held at Imperial Bank?

Matters surrounding Imperial Bank still sound like fiction and the mystery surrounding the owners of the cash seems to become darker each passing day.

The Central Bank of Kenya came in and offered a relief to those who had deposited their cash at Imperial Bank to come forth and collect the cash through some destined banks. The owners of the cash were estimated to be in tens of thousands but ever since the directive was given, the owners of the cash are nowhere to be seen.

The exercise to give back the cash to the owners started two months ago and up to yesterday, only 16,955 customers have come forth to claim their money. According to CBK Governor, Mr. Patrick Njoroge, this number only represents a third of all those who were to come and have access to the cash. Those who have already claimed their cash have been paid a total of 6.4 billion shillings.

The failure of more than three quarter of people to lay claim on their money at Imperial Back leave many, including the Central Bank of Kenya in doubts of who really are the owners of the millions at Imperial Bank which has now collapsed.

The Central Bank of Kenya says that a total of 1.6 billion shillings is still unclaimed putting in mind that the CBK had set aside a total of eight billion shillings for customers who had less than one million shillings at the bank to have access to their cash.

Imperial Bank was put under receivership by the Central Bank of Kenya early last year after it became unable to maintain services to their customers. There has been claims of money laundering at the bank with some saying that the activity at the bank only came to the limelight after the demise of the former CEO.

The question now remains, who is the owner of the cash at Imperial Bank?

Article by Juma Fred.