The BD has a detailed story of the simmering wars between them and the Capital Markets Authority over regulatory measures taken to stamp more authority in order to ensure that investors confidence at the market is restored.The licensing war has seen the exit of CMAs Chairman.
You may recall that currently there has been jitters in the market over the supposed undervaluation of various counters as well as the reluctance of various foreign investors to remit their cash for investments in the emerging market.
There is more than meets they eye in this saga. For a long time CMA has been a toothless bulldog in hibernation.
With various cases of grand corruption including the Triton saga confidence in our emerging market might be waning by the day and more still needs to be done for investments opportunities to attract rallied prices and increased attention in 2009.
The case of Triton and Kenya Commercial Bank loan has led to price scare for the counter at the stock market as the mystery of missing millions deepens by the day.
The Kenya Commercial Bank has sued Triton Petroleum Company, under receivership, for Sh2 billion guaranteed through various debentures to import crude and refined oil to the Kenyan market.
The lump sum is part of Sh7 billion the oil dealer owes other banks among them Eastern and Southern African Trade and Development Bank and a chain of oil companies.
Bankers could soon be allowed to provide a diverse range of financial products including insurance services, if draft amendment proposals to the Banking Act prepared by Central Bank (CBK) are approved by the Attorney General.more
Collective Action on Corruption in #Nigeria: A Social Norms Approach to Connecting Society and Institutions - A report from Chatham House: This report explores corruption in Nigeria as a collective practice – one that is primarily an aggregate of individual behavio...