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{
    "id": 645057,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/645057/?format=api",
    "text_counter": 80,
    "type": "speech",
    "speaker_name": "Hon. Chepkong’a",
    "speaker_title": "",
    "speaker": {
        "id": 1154,
        "legal_name": "Samuel Kiprono Chepkonga",
        "slug": "samuel-kiprono-chepkonga"
    },
    "content": "Thank you very much, Hon. Speaker. I rise pursuant to Standing Order No.83 to support what the Leader of the Majority Party has just spoken to. This is a very serious matter. I get very surprised when I hear the Governor of the Central Bank of Kenya saying that there was insider trading. When people steal money in Government, it is called corruption. When people steal money which we have banked in Chase Bank, it is called insider trading. Stealing and corruption is one and the same thing, whether it is found in the private or public sector. We should call a spade by its name. The second thing that the CBK must be alive to is that we passed a Bill which is now an Act of Parliament; namely, the Insolvency Act. When dealing with companies such as Chase Bank and Imperial Bank, they should apply the law as it is. We have now incorporated Chapter 11, which is applied in the United States of America, to protect banks that are becoming insolvent, so that we can protect the banks instead of closing them, to allow depositors to withdraw even Kshs50,000. We should not completely close the banks. We should put a ceiling of how much money can be withdrawn. We should allow those people who sell mboga and who have banked Kshs10,000 or Kshs5,000 to withdraw their money. Chase Bank marketed itself as a bank for the poor, the youth and the family. It did not market itself as a bank for the corporates. In fact, the people who are suffering are the poor. There was a taxi man who, yesterday, brought me to the airport from Eldoret Town. I asked him where he was and he said he was in town. I asked him what he was doing and why he was not at the airport, he said he was confused. I asked him what had happened and he said that he had lost all his savings at Chase Bank. You can imagine that somebody has a taxi business; he is confused and has stopped doing business. People’s lives have been destroyed completely. We expect the Inspector-General of Police to have dealt with this issue. We expect people to be behind bars. I do not know what we are looking for. We have been told that somebody has stolen Kshs8 billion. Do we need any more evidence on that when we know that Kshs8 billion has been lost? Two banks have been closed and we are still saying that we are collecting evidence. This looks like a merry-go-round investigation where some people are paying themselves. The directors are also paying the investigators. What are the Criminal Investigation Department (CID) officers doing? Those fellows should be sleeping inside Kamiti Maximum Prison. What they have done is tantamount to killing people. Some people have said The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}