According to current CBK Governor Patrick Njoroge, the regulator’s culture of leniency contributed to a build-up of misconduct in the industry. Updated Tue, May 24th 2016 at 11:53 GMT +3Central Bank of Kenya Governor Patrick Njoroge. The lender’s shareholders are among those who have filed lawsuits against CBK, as well as the Kenya Deposit Insurance Corporation. Banking supervisionThe country has seen 27 lenders collapse or put under receivership, with three of them since Njoroge took over in June last year. The Central Bank of Kenya (CBK) has admitted that it should have stepped in sooner to halt the collapse of three lenders in the past nine months.

Source: Standard Digital May 24, 2016 01:22 UTC