Local Senator Dishing Out Ksh. 3,000 For Every Ksh. 100,000 Converted Into Dollars

A Local Senator is paying Vijana wa Mkono Ksh. 3,000 per each Ksh. 100,000 converted into dollars, the editor of this site, Cyprian Nyakundi has been alerted.

So, If you convert Ksh. 1,000,000 into dollars, you walk away with ksh. 30,000 which is a raw deal, considering the fact that the senator is hoarding more than 5 containers at his residence.

This also confirms the editor of this site's views that Forex Exchanges will be the biggest money laundering outfilts, and not banks!

The money belongs to a very influential politician, we have learnt.

The senator was a few weeks ago under the DCI radar for conspiring with crooked firms to make fictitious project supplies with inflated invoicing as a means of diverting funds meant to benefit the country and the poorest communities of Kerio Valley to their own individual luxury projects.

The senator is constructing a Sh200 million palatial residence in Nairobi’s upmarket area of Karen adjacent to luxurious Bogani Villas.

The noose on the collective neck of graft lords suspected to be hoarding billions of shillings in safe houses continued to tighten Monday as the Central Bank of Kenya announced it had asked sister banks in the region to alert it on any suspicious transactions.

CBK Governor Patrick Njoroge warned that the current issue of the Sh1,000 note — the darling of counterfeiters, drug lords, and political criminals — will cease to be legal tender in October this year.

Njoroge said people “involved in illicit transactions” using “illicitly acquired cash” will find it impossible to get the money in the banking system or even to convert it into new-generation bank notes.

More updates to follow