The Consumer Federation of Kenya has raised alarms following revelations that Ksh6.3 billion was allegedly withdrawn in cash from a public account held at Equity Bank. The federation’s statement emphasizes the growing public concern over accountability and governance in the management of taxpayer funds.
Former Deputy President Rigathi Gachagua was the first to blow the whistle about the eCitizen millions which had been withdrawn at once from Equity Bank.
At the center of the controversy is Equity Bank CEO James Mwangi.
The eCitizen/Equity Bank scandal just got personal. CEO James Mwangi built a brand on financial inclusion and trust. Now Kenyans want to know how Sh6.3B was allegedly withdrawn in cash from a public account — on his watch, in his bank. Brand reputation is fragile. Silence makes… pic.twitter.com/TsTFN8SkvH
— Consumers Federation of Kenya (COFEK) (@Cofek_Kenya) March 31, 2026