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NYS scandal: MPs reveal 17 more banks handled billions

By JOHN NGIRACHU November 15th, 2016 1 min read

The parliamentary committee investigating the loss of public funds in the National Youth Service (NYS) scandal has announced it will expand the probe to include the role played by 17 more banks in the scam.

This is after the Public Accounts Committee (PAC) received fresh information from the Devolution ministry that show the banks handled several billions for companies that did business with NYS since 2013.

PAC chairman Nicholas Gumbo on Tuesday criticised the Directorate of Criminal Investigation (DCI) and the Ethics and Anti-Corruption Commission (EACC) for not revealing the information to the committee.

“In the period under review, the money that left NYS was more than what you have heard in this room,” PAC chairman Nicolas Gumbo told a press conference at Parliament.

He said that while no impropriety on the part of the companies and banks has been established, they need to question the companies and banks to establish the nature of their transactions.