The Millimani Anti-Corruption Court has ordered Assets Recovery Agency to investigate United Bank of Africa (UBA) over Sh 5billion money laundering claims.
According to court documents filed under miscellaneous criminal application, the court wants the bank to restrict for at least 45 days account number 5501030010886 under the name Oit Africa Limited from doing any transactions to allow the investigating officer Issac Nakitare to access and obtain information on that account.
Some of the critical information on that account that is required include documents on when the account was opened, bank statements since the account was opened, cheques/cash deposits and withdraws and bank RTGS/swifts transfers.
ARA is also seeking to compel UBA managers to authorise and give the investigating officer electrically produced evidence to be used in court.
The officer said there was compelling ground for the suspicion of the account being used in money laundering.
The officer also noted that the bank account is being investigated for several other offenses, including money laundering and crime proceeds.
In August, last year, the bank appointed Chike Isiuwe as the chief executive, replacing Kehinde Omirinde who had been serving as acting CEO of the bank, which began operations in Kenya in 2009. It is a subsidiary of UBA Plc.
Isiuwe joined the UBA-Kenya from UBA Group in Nigeria, where he was the deputy general manager – Corporate Banking Directorate.
He rose through the ranks from being a teller to a top executive throughout a career spanning over two decades.