Philip Rotich Kiprono, the operations manager at NCBA Bank’s Kisii branch, has been formally charged in court over the alleged theft of more than Sh52 million from the bank.
The charges were filed at Kisii Senior Principal Magistrate’s Court, where Kiprono faced a total of 134 criminal counts linked to the missing funds.
According to court documents, the alleged theft occurred over a period from December 13, 2022, to October 10, 2024. During this time, Kiprono is accused of misappropriating Sh52,404,084.95 while serving in his managerial role at the branch.
The offences listed against him include theft by servant, acquisition of proceeds of crime, possession and use of proceeds of crime, forgery, and uttering false documents.
These actions are said to contravene the Penal Code and the Proceeds of Crime and Anti-Money Laundering Act of 2009.
When the charges were read, Kiprono pleaded not guilty to all counts. The case is being prosecuted by Senior Assistant Director of Public Prosecutions Solomon Njeru, who argued for strict bond conditions due to the large sum of money involved.
The prosecution emphasized that the scale of the alleged theft makes it a serious matter that requires careful handling to ensure the accused appears in court for all proceedings.
The court set October 9, 2025, as the date to rule on bond terms. Until then, Kiprono will remain in Kisii prison. A pre-trial hearing is scheduled for October 16, 2025, during which the defence and prosecution will prepare for the main trial.
The charges against Kiprono have sparked concern about accountability and oversight within banking institutions. While the bank and authorities investigate how such a large amount could have been allegedly misappropriated, the case showcases the importance of strict financial controls and monitoring at all levels of management.
Observers note that cases involving high-ranking bank officials are complex and often involve detailed examination of financial records, internal audits, and electronic transactions.
The outcome of this case will not only determine Kiprono’s legal fate but may also influence how financial institutions strengthen their internal safeguards against fraud.
The court’s upcoming decisions on bond and the pre-trial procedures will set the pace for the main hearing, where both prosecution and defence will present evidence and arguments.
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