Alfred Keter: Accusations against Him Reveal a Rotten Financial System, is that the case?

On Friday, television screens in the country were tinted with the “Breaking News” following the arrest of the outspoken Nandi Hills Member of Parliament Alfred Keter.

As Kenyan online enthusiasts took to social media excited about the arrest, a few with a ‘third eye’ when it comes to matters of the economy smelled something fishy in the whole saga.

From what the Economist David Ndii has been able to articulate, the accusations made against the Nandi Hills legislator are unfounded and do not make sense unless there is a big fish at the Central Bank of Kenya that should have been arrested instead of the legislator.

“Treasury Bills/bonds are digital, were dematerialized together with shares. Fakes means someone hacked into the CDS,” said Ndii through his Twitter handle.

According to information on the Central Bank of Kenya’s website, a treasury bill is a paperless short-term borrowing instrument issued by the Government through the Central Bank of Kenya.

“A treasury bill is a paperless short-term borrowing instrument issued by the Government through the Central Bank of Kenya” ~ CBK website https://t.co/hriuRF4JYW

— David Ndii (@DavidNdii) February 16, 2018

According to David Ndii, the maximum tenure for a T-bill is one year and that all traded instruments were dematerialized meaning that paper exchanged for digital.

1. T-bills max tenor is one year. 2. All traded instruments were “dematerialized” meaning paper exchanged for digital. https://t.co/SQaKK64bI4

— David Ndii (@DavidNdii) February 16, 2018

Has Alfred Keter been set up for something? Did someone perhaps capitalize on his ‘ignorance’ about the T-Bills to lure him into ‘committing a crime’ so that he can be arrested and be punished for his strong critique of the government of the day?

T-Bills do not exist in document form, they are traded electronically, so whatever he “presented” cannot be passed off as T-bills. https://t.co/nBdAa4o7MJ

— David Ndii (@DavidNdii) February 16, 2018

Alfred Keter has been at loggerheads with his own political party, going against even the Deputy President and the President himself. Is he being punished?