Former Central Bank of Kenya (CBK) Governor Patrick Njoroge has explained the necessity behind the closures of Chase Bank, Imperial Bank, and Dubai Bank during his tenure.

• The closures were deemed necessary due to the banks' failure to comply with regulatory requirements.
• Key institutions involved include Central Bank of Kenya, Dubai Bank, Imperial Bank, and Chase Bank.
• Dubai Bank was closed in August 2015 due to liquidity issues, followed by Imperial Bank in October 2015 after reports of fraud, and Chase Bank due to significant withdrawals after financial irregularities became public.

The High Court in Nairobi has reinstated a Sh29.2 million tax assessment against Jakoline Enterprises Limited, overturning a previous decision by the Tax Appeals Tribunal.

• The reinstated assessment includes Sh14.48 million in Income Tax and Sh14.73 million in VAT for the period between 2017 and 2020.
• Key parties involved are the Kenya Revenue Authority (KRA), Jakoline Enterprises Limited, and the Tax Appeals Tribunal.
• The dispute stemmed from discrepancies between purchases declared in the company's Corporation Tax returns and its VAT returns, with the court ruling that the company needed to specifically explain these variances.

Taxpayers reportedly lost at least Sh14.3 billion in a deal involving the sale of Safaricom shares. This loss occurred when the National Treasury and the National Assembly allegedly disregarded expert advice from a state think tank regarding the share price.

• Taxpayers allegedly lost Sh14.3 billion due to the sale of Safaricom shares at a lower price than recommended.
• The Kenya Institute of Public Policy and Research Analysis (KIPPRA) recommended a minimum price of Sh36.38 per share, while the government settled for Sh34.
• KIPPRA, an autonomous public policy think-tank, presented its valuation to the National Assembly's Finance and National Planning Committee and the Public Debt and Privatisation Committee.
• Despite KIPPRA's concerns about forgone dividends exceeding Sh1.2 trillion over 30 years, its recommendations were reportedly not included in the committee's final report.