The Central Bank of Kenya (CBK) is under scrutiny after an internal audit flagged procedural lapses in its Ksh14.5 billion currency printing contract with a foreign company.
The contract was awarded through a classified procurement route, raising concerns over adherence to legal frameworks and oversight gaps.
According to the audit report by the Auditor General, CBK signed the contract on April 22, 2024, under the classified procurement method governed by Section 90 of the Public Procurement and Asset Disposal Act, 2015.
The bank had obtained prior clearance from the Treasury Cabinet Secretary in January 2024.
