Imperial Bank Shareholders Sue CBK Governor Njoroge Over Mismanagement

by Mahakamani News

Central Bank of Kenya (CBK) Governor Patrick Njoroge who has been sued by Imperial Bank Shareholders.

Shareholders of a collapsed bank have sued the Central Bank of Kenya Governor over alleged mismanagement of its receivership.

The Imperial Bank owners Thursday filed the suit against Patrick Njoroge, his deputy Sheila Mbijiwe and Kenya Deposit Insurance Corporation chief Mohamud Mohammed in their personal capacity. 

Through lawyer Andrew Wandabwa, the shareholders said the suit did not in any way affect the ongoing transaction, but rather sought to ensure that the end game was not liquidation.

 “We are seeking orders from the court declaring Njoroge, Mbijiwe and Mohammed liable and should be compelled to lead recovery efforts not liquidation,” said Mr Wandabwa.

The shareholders; Kenblest Limited, Alnashir Popat, Anwar Hajee, Jinit Shah, Hanif Mohamed, Amiralji Somji, Mukesh Kumar and Vishnu Dhutia said Mr Njoroge and the CBK refused to provide them with relevant and pertinent financial information.

“The information that Njoroge and CBK officials are withholding would enable us put in place our proposal in line with the parallel process,” said Murgor.

“My clients are seeking general damages and/or aggravated damages against the first, second and third defendants jointly and severally for misfeasance in public office.” 

The shareholders are also seeking a declaration that Njoroge, Mbijiwe and Mohammed have acted in excess of their powers as relates to the receivership of the bank. 

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