The Central Bank of Kenya (CBK) has issued a stern warning against Kenyans spreading information it deems false regarding the country’s banking system.
This comes on the backdrop of unverified posts circulating in social media platforms by various users regarding fraud and a potential bank run.
According to CBK, Kenya’s banking system which has 39 licensed commercial banks is stable and resilient contrary to false information circulating online.
“The Central Bank of Kenya (CBK) is aware that malicious actors may attempt to circulate erroneous information on online and other channels about the banking system. The banking sector in Kenya remains stable and resilient, and is adequately capitalized,”
Some users on X have been spreading false information online regarding the health of Kenya’s banking system alluding to a cap on withdrawals.
“All customers should continue transacting as normal. CBK has not issued any press release, or other information with regard to the operation of the banking sector or any other element of its mandate. We thus advise the public to disregard any such purported information,”
CBK now warns of legal action saying the intent behind the malicious attempts is usually to induce panic, leading to action which may destabilise the market.
“We wish to emphasise that creating or circulating such information is in contravention of several laws including the Computer Misuse and Cybercrimes Act, and will lead to criminal prosecutions.”
NCBA Chief Executive Officer John Gachora through his official X handle, @JohnGachora also called out the fake information saying Kenyan banks are well capitalised.
“The Kenyan banking sector is at its strongest in capital, liquidity and other measures. We should be very proud as a country of our strong banking institutions. Those fellas making some funny noises, waende kue kwa kona, walie peke yao,” he posted.