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N35.7bn Fraud: Suspects to stay in custody until June 4

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Kenya’s public prosecutor said on Wednesday that 24 civil servants and business people charged a day earlier with involvement in the theft of $99m (N35.7bn)  of public funds would stay in custody until June 4, when they will have a bail hearing.

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The suspects, who included the public service ministry’s principal secretary, pleaded not guilty on Tuesday to magistrate Douglas Ogoti to charges that relate to stealing at the government’s National Youth Service (NYS).‏

“Accused to be remanded in custody until Monday 4th June, 2018 when court will rule on their bail application,” the office of the director of public prosecution said on Twitter.

The NYS is a state agency that trains young people and deploys them to work on projects ranging from construction to traffic control.

It is rare for prosecutors to bring such a large group of public officials to court to answer corruption charges.

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Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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