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{
    "id": 647289,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/647289/?format=api",
    "text_counter": 201,
    "type": "speech",
    "speaker_name": "Sen. Wetangula",
    "speaker_title": "The Senate Minority Leader",
    "speaker": {
        "id": 210,
        "legal_name": "Moses Masika Wetangula",
        "slug": "moses-wetangula"
    },
    "content": " Mr. Temporary Speaker, Sir, this is an embarrassingly inadequate answer. The Chairman of the Committee that I sit in has given an answer that is contradictory, inadequate and intended to cover up what is going on at NBK. You cannot say that you are not aware that funds belonging to NSSF, NHIF, RBA and other public institutions have been lost when at the same breath you are saying that money has been lost. It is true that NSSF has 48 per cent of ownership of NBK. These are public funds. I know that the law says you cannot own more than 25 per cent but NSSF has 48 per cent of the money in NBK. Immediately after I asked this question, the Board of NBK was sent on leave and reported to the CID. Eventually, they have sacked six top managers for occasioning a huge loss to the bank. Could the Chairman tell us, and table the accounts of the bank to show that in fact, the loss is Kshs1.2 billion and not Kshs20 billion because information available to me is that the bank embarked on reckless lending of money to borrowers without proper security and in certain instances, a borrower applied for a loan like today, the loan was approved the following day and on the third day the borrower withdrew from the account US$1,000,000 and a week later the loan was declared a bad loan and the account closed? This is fraud and theft. Could the Chairman bring a detailed Statement---"
}