Court Rules Auctioneers’ Board Cannot Discipline Banks, Credit Firms
Court has ruled that the Auctioneers Licensing Board overstepped its powers when it tried to take action against banks, credit firms..
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The High Court has ruled that the Auctioneers Licensing Board exceeded its authority by attempting to discipline a dozen banks and credit firms, including Co-operative Bank, for allegedly conducting auction activities without proper licenses. Justice Benjamin Njoroge clarified that the Board's mandate is limited to licensed auctioneers.
- The complaint against the financial institutions was brought by the Kenya National Society of Professional Auctioneers.
- Co-operative Bank, supported by firms like NCBA Bank and Stanbic Bank, argued they are regulated by the Central Bank, not the Auctioneers Board.
- Justice Njoroge stated the Auctioneers Act only grants the Board power over its members, not external entities, echoing a similar decision from 2022.
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Court Rules on Auctioneer Board's Power; New Crypto Law Introduced; SHA CEO Grilled - October 2025
The High Court has ruled that the Auctioneers Licensing Board exceeded its authority by attempting to discipline a dozen banks and credit firms, including Co-operative Bank. Justice Benjamin Njoroge clarified that the Board's mandate is limited to licensed auctioneers. Meanwhile, Kenyan lawmakers are grilling Social Health Authority (SHA) CEO Dr. Mercy Mwangangi over alleged irregularities such as excessive legal fees and ballooning project costs. In legislation, Kenya's new Virtual Assets Service Providers (VASP) Bill, which formally recognizes cryptocurrencies and digital assets, has been introduced. According to Sam Kim, co-founder of GoChapaa, this law is poised to integrate blockchain technology into the daily financial lives of Kenyans, extending the country's digital finance legacy.
