Banks have a right to refuse service to customers for legitimate reasons and are also obliged to refuse to continue business relations with a client or to conduct a suspicious financial transaction.
That’s the case of one man identified as Samuel James Kinyanjui a Nairobi billionaire who was blacklisted from banking his money in all Kenyan banks on grounds that he had been listed as a person of conflict under the proceeds of crime and anti-money laundering law.
This is after Investigations by the Banking Fraud Investigation Department alleged had been involved in the illegal transfer of large sums of money to an individual identified as Nathan Yobana — a West African whose nationality was not known.
The blockade forced him to move to court with an application for orders stopping the banking fraud police from blacklisting him.
It is believed that by that time Kinyanjui had built an empire of businesses in the country like the Edenville estate in Kiambu worth Ksh. 2 billion, Torito Roses flower firm and others.
Edenville estate photo courtesy.
Sources
https://www.mwakilishi.com/article/lifestyle-news/2018-06-28/meet-samuel-james-kinyanjui-the-nairobi-tycoon-every-bank-has-rejected
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