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SportPesa money stuck in Chase Bank

09 April 2016, 17:19

Nairobi - The country's number one betting firm, SportPesa, has said that its money is stuck in Chase Bank.

The gambling firm revealed that it had deposited over KES 500 million in the bank before its closure Wednesday.

However, the firm has assured its customers that operations will continue smoothly.

Standard reports that Strathmore University, Law Society of Kenya and United Nations SACCO have also been affected by the closure.

Read Also: Boinnet orders arrest of eight National Bank, Chase Bank executives

Chase Bank was placed under receivership on Wednesday after it failed to meet its obligations, becoming the third lender in the country in nine months to be placed under central bank control.

Kenyans in the Diaspora have protested the closure, saying they should have been warned beforehand.

The group further asked the government to ensure that all banks conform to rules and regulations that guarantee the security of customers' funds, Daily Nation reports.

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- News24


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