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White collar thief and KPC looter James Olubayi set to be arrested

James Olubayi, Owner of Zamara Risk and Insurance Brokers and many others

Zamara Risk and Insurance Brokers founder James Olubayi who is a known contractor at KPC is used to having his ways through bribery and coercion.

Olubayi is under the radar of DCI for economic crimes.

The Chairman of UBA Bank (Nigerian lender) is a wheeler dealer in the insurance industry who has eaten from irregular tenders from Kenya Pipeline Company (KPC) to National Hospital Insurance Fund (NHIF).

Olubayi has been adversely mentioned in several scams where he is said to ‘win’ tenders through dubious means, which lead to misappropriation of funds due to inflated costs to the govt entities he deals with.

Olubayi arm-twisted KPC management, which has widely been exposed as corrupt, to shortlist some few firms including his, Zamara, for the Sh200 million tender.

The billionaire thief Olubayi colluded with KPC managers to raise the threshold for turnover for bidding firms to Sh500 million in order to lock others out.

“KPC is highly infested with corruption and unfair market competitive rules imposed to lockout competent firms”, an insider said

Olubayi has also been mentioned in the Sh6.3 Billion NHIF scandal.

Apart from looting KPC, Olubayi has also sabotage President Uhuru Kenyatta’s Universal Health Coverage (UHC) dream. For this reason, the man is set to be arrested.

Sections of KPC depot in Nairobi

13 Govt officials under probe by DCI

Kenya Pipeline Company (KPC) is now under intense probe over the contract it gave to a Lebanese engineering firm Zakhem International to construct a modern oil pipeline from Mombasa to Nairobi.

In 2013, KPC sought to replace the 450 kilometre Line 1, which had been in operation since 1982, with a new modern Line 5.

Zakhem won that tender worth Sh48 billion and signed a Sh48 contract for an 18-month construction period between August 2014 to February 2016.

There was a manipulated cost of about Sh11 billion paid to Zakhem that cnyakundi.com exposed in February 2018.

Former KPC CEO Joe Sang and board Chairman John Ngumi connived together with Zakhem officials, to inflate the costs midway, to enable the two thieves make away with taxpayers money.

READ: Kenya Pipeline Chairman & CEO’s Attempt To Steal Kshs. 11 Billion Halted By Parliament

It is now that the Directorate of Criminal Investigations (DCI) has written to KPC to release the wealth declaration forms and payslips of the 13 civil servants between the period in question from 2013 to 2020.

The DCI is investigating loss of billions that should’ve been paid to Kenya Revenue Authority (KRA) for equipment and materials used in the construction of Line 5 to replace Line 1.

KPC had initially obtained tax and duty exemptions from the Treasury through the Ministry of Energy. But this was not reflected in the invoices.

It is believed that the 13 govt officials colluded with Zakhem to get the full payment including the tax that had been waived off.

 

 

 

 

 


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