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Wednesday, 17 February 2016

Kenyan Sh791 million National Youth Service (NYS) scam,Waiguru never met Josephine Kabura

Former Devolution Cabinet Secretary Anne Waiguru has said she has never met Josephine Kabura Irungu, the woman behind the latest allegations that the former

Governer of the Bank of Tanzania Prof Benno Ndulu
STANBIC Bank Tanzania has finally paid a fine of 3bn/- to the Bank of Tanzania (BoT) for its role in the dubious transaction in which six million US dollars (about 12bn/-) was withdrawn in cash in a matter of days by a local firm, Enterprise Growth Market Advisors (EGMA), in 2013.

“The bank submitted its defence in regard to the matter but we were not satisfied and they agreed to pay the fine as required,” the central bank’s Governor, Professor Benno Ndulu, told this newspaper in a telephone interview.

Prof Ndulu would not go into details but emphasized that the commercial bank had deposited the money at the central bank as it had been directed.

On January 17, this year, the Minister for Finance and Planning, Dr Philip Mpango, revealed at a news conference that Stanbic Bank Tanzania had been given until January 30, 2016, to defend itself against the penalty.

“The law requires the bank to file its defence in 20 days and if the central bank is not satisfied, then Stanbic Bank Tanzania will be compelled to pay the fine,” Dr Mpango explained then.

He noted on the other hand that the Prevention and Combating of Corruption Bureau (PCCB) is still conducting investigations on individuals implicated in the scandal.

EGMA directors allegedly received kickbacks amounting to 6 million US dollars (about 12bn/-) for ‘facilitating’ a Eurobond of US $600 million dollars (about 1.2 trillion/-) from the parent company of Stanbic Bank Tanzania, the Standard Bank UK, now called ICBC Standard Bank.

The arrangements for the bond were made by Bashir Awale, then Chief Executive of Stanbic Tanzania and Ms Shose Sinare, then the head of corporate and investment banking.

Awale was later sacked while Sinare resigned. “The penalty should serve as a warning to other banks and financial institutions, which will fail to adhere to the Banking and Financial Institutions Act of 2006 and its regulations,” the minister stressed.

Dr Mpango said the penalty was slapped on Stanbic after the central bank satisfied itself that the former failed to put in place proper internal control mechanisms that would have stopped the payments to EGMA.

Last December, Chief Secretary Ombeni Sefue said the government was conducting its own investigations to pin individuals behind the dubious payments in which billions of money were withdrawn in cash within few days, contrary to banking regulations.

Ambassador Sefue’s revelation came days after Standard Bank UK admitted before the High Court in London of wrongdoing by its Tanzanian branch and agreed to pay a fine to avoid more litigation.

Credit: The Daily News

Anger as UK moves to ban Israeli settlement boycott

Activists have accused the United Kingdom of a crackdown on human rights campaigners over plans to ban city councils, public bodies and some student unions

The Big Brother Africa 2014 winner Idris Sultan is no longer expecting a new born from Current Girlfriend Miss Tanzania 2006, Wema Sepetu baby bamp that recently covered the headlines that the film star and Diamond Platinumz 's Ex Girl had been converted by Idris to a 'Real' Woman by making her Pregnant. On his Instagram page, Idris Sultan laments to have his dreams vanished.......and says....

''To my unborn Twins,

So quickly you came into our lives,

So quickly torn away.

Never got the chance to meet you,

Thre's so much I want to say.

All these thoughts running through my head,

It's enough to drive me insane.

Though you lived only 13 short weeks,

You were loved so very much.

I wish that I could hold you,

I long to feel your touch. I pray that in another life, we get the chance to meet. God brings and take as he plans and we can not complain but pray that all that was for better reason and better plan in store for us.
We have learnt lessons painfully but wont stop trying again and again and swear by the time your brothers and sisters are made to come to this world we will be more than ready for them.

Sincerely Your Dad'' Wrote Idris

Despite the ongoing debate about the controversial paternity of her unborn child, Wema Sepetu is now said to have had a miscarriage their dreams to expect a new born now Shattered. If this is true then it may be another factual turning point that may fan speculation that her ‘childlessness’ was the main reason that she parted ways with Nana hit-maker, Diamond.