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Report: National Bank of Kenya places CEO on leave amid ongoing internal audit

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Report: National Bank of Kenya places CEO on leave amid ongoing internal audit

National Bankof Kenya Ltd. placed CEO and Managing Director Munir Ahmed, alongwith five other top managers, on forced leave amid an ongoing internal audit,Bloomberg News reported March 29, citing an emailed statement from the bank.

Chairman Mohamed Hassan reportedly said that the movereflects the bank's commitment to adherence to corporate governance principlesand various central bank guidelines. Ahmed disagreed with the board's decisionin a telephonic interview with Bloomberg.

National Bank of Kenya on March 28 dismissed speculation onsocial media that Ahmed had been ousted. The board reportedly appointed WilfredMusau as acting CEO.