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JORAM: Why NBK must do more to restore public confidence - 7 months ago, 12 July 19:00

By: Meshack Joram

On April 4, 2018, the Capital Markets Authority (CMA) announced that it had taken administrative action against board members and former senior managers of the National Bank of Kenya (NBK) believed to have been involved in financial impropriety at the lender in 2015.

As a fully compliant tax payer and member of the National Social Security Fund(NSSF) which holds a stake in NBK, I welcome the action by the CMA.I went to the bank’s website to get their perspective on the issues highlighted by the CMA. It was heartening to see the Board of Directors of NBK move towards integrated reporting with the release of the first such report with the National Bank 2016 Integrated Report and Financial statements for the period January 1, 2016 – December 31, 2016.

It showed the Board was embracing more transparency.The King IV Report on Corporate Governance, 2016 says, “Integrated reporting is the culmination of ...
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Category: business news

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