Sharp Daily
No Result
View All Result
Saturday, July 12, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

NSSF bond trades under scrutiny amid insider collusion

Teresiah Ngio by Teresiah Ngio
August 30, 2024
in News
Reading Time: 2 mins read

The National Social Security Fund (NSSF) of Kenya has come under fire following allegations of irregular bond trades that may have benefited insiders at the expense of pensioners. The controversy came to light after the Central Bank of Kenya’s Director of Financial Markets raised concerns in a letter, prompting an investigation by the Capital Markets Authority (CMA).

According to the Central Bank’s analysis, NSSF purchased bonds at prices significantly higher than the market average, raising suspicions of malpractice. The implication is that insiders at NSSF may have colluded with brokers to generate trading income for third parties.

 “Very strange dealings are happening in our bond markets. I recently came across a letter by the Central Bank of Kenya’s Director of Financial Markets, David Luusa, to the CEO of the Capital Markets Authority (CMA), asking the market regulator to investigate recent bond trades between some stockbrokers and market players and the National Social Security Fund (NSSF).” Jaindi Kisero, a financial analyst, stated

The letter described transactions in May and July as “illegal,” suggesting a pattern of questionable trades. The CMA has been tasked with investigating these dealings and their connections with the Central Bank of Kenya.

RELATEDPOSTS

Still sending tier II contributions to NSSF by default? Time to reconsider.

June 13, 2025

Atwoli defends NSSF contributions amid political debate

February 5, 2025

An industry insider, speaking on condition of anonymity, said, “Can we really claim to have a proper yield curve that accurately captures and reflects prices? It is an open secret that many treasury departments of the large commercial banks generate their own yield curves.”

This practice, if true, could distort market prices and create opportunities for exploitation. The NSSF, as a major player in the bond market, has a responsibility to ensure transparent and fair trading practices.

The investigation is ongoing, and stakeholders are calling for increased oversight of bond trading activities. If the allegations are proven true, it could lead to significant reforms in Kenya’s financial markets and potential legal consequences for those involved.

Previous Post

Kenya’s real estate sector faces rising costs, regulatory hurdles, and market saturation in 2024

Next Post

Government borrows KES 16.08 billion to fund livestock insurance

Teresiah Ngio

Teresiah Ngio

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

Why Employers Should Prioritize Pensions Over One-Time Gratuity Payments

July 10, 2025
Business and Finance Concept - Coin, Currency, Financial Item, Graph,

Opinion: Why lower taxes may be Kenya’s only escape route

July 10, 2025

Nvidia becomes the first company globally to hit USD 4.0 trillion market value

July 10, 2025

Privatization in Kenya: A new dawn for capital markets and fiscal stability

July 10, 2025

How Kenya is future-proofing its economy against illicit finance

July 9, 2025

The importance of Investment Policy Statements (IPS) for pension schemes in Kenya

July 4, 2025

Understanding Life Cover as an Additional Benefit in Retirement Benefit Schemes

July 4, 2025

Del Monte foods files for bankruptcy in USA

July 3, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024