Dr. Oburu Odinga

All parliamentary appearances

Entries 921 to 930 of 1641.

• 5 May 2011 in National Assembly: Mr. Speaker, Sir, as I stated before while answering this Question, these pyramid schemes were illegal. These schemes were crafted by very clever people who wanted to defraud members of the public. They were not under the supervision of the CBK. The CBK supervises only those institutions registered under it, which include banks and deposit-taking micro-finance institutions. These were illegal schemes which do not fall under the purview of the CBK and, therefore, we could not have taken action against them. However, it is a very serious matter which, as a Government, we are taking very seriously. Because of this ... view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, these cases were investigated by the Banking Fraud Investigation Unit attached to the CBK. This is the one under our purview. These actions by these fraudulent people are criminal matters, which should be investigated by the Police Department. I do not want to say that we have prompted the Commissioner of Police. However, we can prompt him to take these matters which are criminal in nature, so that they can be prosecuted. view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, the Nyenze Report was commissioned by the Minister for Co-operative Development and Marketing. When the culprits knew that they were about to be caught, they converted their schemes into SACCOs. These SACCOs were squarely under the Ministry of Co-operative Development and Marketing. Because of the nature of these pyramid schemes, the SACCOs collapsed and when they collapsed they became hot potatoes in the hands of the Minister for Co-operative Development and Marketing, because cooperatives are registered by the Government. We have taken steps, as a Ministry, to advise the Minister for Co-operative Development and Marketing to consider ... view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, as I had said before, the Banking Fraud Investigation Unit is a department in the Office of the President and the responsibility of this investigation lies with the Police Department, just as recommended by the Attorney- General. view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, some of these investigations, from what I understand--- view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, the correspondences between the Attorney- General’s Office and the Central Bank of Kenya, just as the Nyenze Report concluded, was that there was lack of proper legislation in terms of pyramid schemes, which would effectively prosecute the--- view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, from the records that I have, this was not done. view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, I am not competent to answer why all the other investigations were not done because what I was dealing with, as far as we were concerned as the Office of the Deputy Prime Minister and Ministry of Finance was the violation of the Banking Act. This is what the BFIU did. They identified three organizations which had violated this Act, and they are the ones we took to court. On the others who were not investigated, perhaps, the question could be directed to the investigating arm of the Government, which is the Office of the President. Thank ... view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, I have said that the ones which we investigated are the three, and I have mentioned the names of the people. Mr. Speaker, Sir, I do not know how--- view
• 5 May 2011 in National Assembly: Mr. Speaker, Sir, I wanted you to give me clear directions on what further information I should give, because the investigations that should be done should be done by the investigating arm of the Government. view