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Mike Sonko: Senator Murkomen claims Nairobi governor’s arrest is political witch hunt ▷ Kenya News

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– Mike Sonko was arrested on Friday afternoon at Voi while on his way to Mombasa

– He is set to face graft charges involving irregular procurement and payment of over KSh 357 million

– Kipchumba Murkomen said the county boss was a victim of political witch hunt

– Murkomen said there are many other governors who have not been arrested over related issues

Elgeyo Marakwet Senator Kipchumba Murkomen has come to the defence of embattled Nairobi governor, Mike Sonko, following his dramatic arrest over graft allegations.

According to the vocal Rift Valley politician, the flamboyant city boss was a victim of political witch hunt which was well choreographed by those perceive him (Sonko) to be politically incorrect.

READ ALSO: Eliud Kipchoge: Laikipia University honours world marathon champion with PhD accolade

Mike Sonko: Senator Murkomen claims Nairobi governor's arrest is political witch hunt

Elgeyo Marakwet Senator Kipchumba Murkomen says Governor Mike Sonko is a victim of political witch hunt. Photo: Daily Nation
Source: UGC

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In a Friday, December 6, Twitter post, the William Ruto’s ally wished well the county boss who he described as his close friend.

“Gov. Sonko enjoys his constitutional right to be presumed innocent till proven guilty. He is my friend and I wish him well as he proves his innocence,

“You don’t run away from friends. I also know many governors; Mombasa, Machakos, Siaya etc who are protected because they are politically correct,” said Murkomen.

Mike Sonko: Senator Murkomen claims Nairobi governor's arrest is political witch hunt

Governor Mike Sonko bundled into helicopter at Voi airstrip. Photo: The Standard
Source: UGC

READ ALSO: Mtoto wa mchekeshaji Nchebere atoweka, awaomba Wakenya wamsaidie kumtafuta

Sonko was arrested on Friday afternoon at Voi while on his way to Mombasa after the Director of Public Prosecutions Noordin Haji gave consent for his prosecution over irregular procurement and payment of over KSh 357 million.

Despite his protests, he was handcuffed and airlifted to Nairobi and driven to the Ethics and Anti-Corruption (EACC) headquarters at Upperhill amid tight security.

Shortly after his arrest, his office released a statement saying Sonko was ready to face the law and expressed confidence that he was innocent. According to the statement, all that was as result of powerful cartels fighting back.

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“I want to confidently state from the onset that I am more than ready for the lawful course that will help us know the truth.

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“As your leader, and an elected governor, l believe in total accountability, especially when it comes to management of public resources,” read the statement.

The county chief’s arrest is most likely to subject the country’s capital city into a leadership crisis given he has been serving without a deputy since his fallout with former DG Polycarp Igathe who resigned in January 2018.

Mike Sonko: Senator Murkomen claims Nairobi governor's arrest is political witch hunt

Flamboyant Mike Sonko expressed he was innocent and he is ready to face the law. Photo: Mike Sonko
Source: Facebook

READ ALSO: William Ruto’s allies make U-turn, promise to support BBI after Naivasha meeting

The reason behind a possible crisis is based on the High Court ruling by Justice Mumbi Ngugi who ruled that county bosses once charged with graft allegations are not allowed to resume their duties pending hearing and determination of the case.

Although, Speaker Beatrice Elachi who resumed office recently after one year of impeachment can run the county affairs, constitutionally she can only do so within a period of 60 days.

However, on Thursday, December 5, Senate under leadership of deputy speaker Kithure Kindiki technically set aside Justice Mumbi’s ruling by allowing governors facing graft charges to continue serving their voters albeit away from county offices.

With all these factors in place, it is an interesting scenario in the city that is most likely to leave legal scholars and leadership experts scratching their heads for answers.

Do you have a groundbreaking story you would like us to publish? Please reach us through [email protected] or WhatsApp: 0732482690. Contact Tuko.co.ke instantly.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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