South Sudan central bank official says Stanbic withheld airline’s cash

A senior official at the Bank of South Sudan (BoSS) has said that Stanbic Bank credited the accounts of a Kenyan aviation firm with $7.2 million (Sh929.14 million) in 2016, but withheld the money from the would be beneficiary, claiming insufficient funds.

Mr Chan Andrea Chan added that although Stanbic alleged it could not pay the beneficiary- Air Afrik Aviation- because its nostro account had insufficient funds, the said account, held at BoSS, had no connection whatsoever with the monies.