The Auditor-General has called out the Central Bank of Kenya (CBK) for breaching the law by deducting Sh3 billion upfront from debt collected on behalf of the exchequer as its agency fees in the fiscal year ended June 2025.
Auditor-General Nancy Gathungu said CBK’s management was in breach of the Public Finance Management Act in deducting its agency fees, worth Sh3 billion, at source and remitting only the net proceeds to the exchequer.