They thought the Germans would look the other way, you wonder why Kenya power refuses to disclose the beneficiary, also it shows how CBK is compromised, coz before the money is wired out, they should have confirmed the beneficiaries.
The German lender rejected the refund for excess payment of idle power charges paid in 2018, citing a lack of sufficient details of the ultimate beneficiary of the millions of shillings paid to the CBK account.
It also demanded supporting documents for the payment amid increased oversight by German financial regulator BaFin for money laundering breaches, which have seen lenders in the European country slapped with multi-billion shilling fines.
The CBK has remained mum while Kenya Power shifted the burden to the Ministry of Energy in a terse letter sent to LTWP on January 27.
A senior banker in Kenya says the German bank had possibly declined the transfer because the ultimate recipient of the millions of shillings from the CBK was not disclosed.
He added that the CBK could also have declined to be a party to the transaction, which has raised more questions than answers.
The Treasury has disowned a deal that saw Standard Chartered Bank in Germany reject Sh785 million wired into a CBK account by Lake Turkana Wind Power.
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