The East African Development Bank (EADB) has denied the allegations about its loan practices, which were made by former Jubilee Secretary General and Cabinet Secretary Raphael Tuju on Monday, March 24, during a radio interview.
On Thursday, EADB issued a statement denying the allegations and stating that it deals with transparency, legal compliance and good banking practices. "The East African Development Bank (EADB) takes great exception to comments and allegations made in an interview during a live radio talk show in Nairobi, Kenya in the morning hours of Monday, March 24, 2025, touching on its lending operations," part of the statement reads.
The EADB stated that its operations are governed by the rule of law and are conducted in strict compliance with governance rules in its four member countries.
Former Jubilee secretary general Raphael Tuju with ex-chairman Nelson Dzuya at a past press conference.
