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City Hall allays fears of having an account at Chase Bank

Nairobi City County government on Friday said it does not have an account at the closed Chase Bank.

This is after it emerged that operations of three counties with accounts at the bank may ground to a halt.

Already, operations in Kisii, Trans Nzoia and Kilifi counties have been affected after Chase Bank was put under receivership by Central Bank of Kenya.

“Nairobi County has never banked with Chase Bank and anyone who says so is lying. The County only banks with Co-operative Bank and whoever says otherwise in not in his right mind,” Director of Public Communications at Nairobi County Beryl Okundi told Nairobi News.

Kisii ward reps on Thursday failed to get salaries wired to their accounts at the bank’s local branch.

The assembly had contracted the bank to administer mortgages and car loans for members of the county assembly, but the institution gave a condition that the leaders’ pay must pass through its branch.

Kilifi County government’s account at the local Chase Bank branch had Sh11 million.

Also affected by the closure are needy students from Trans Nzoia. They cannot get money from the bursary kit. About Sh50 million has gone under with the bank. The money was part of Sh68 million voted in the first phase of the Elimu Bursary Fund launched on March 24 by Governor Patrick Khaemba.