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Munyiri: The Biggest fraudster in Nyeri wants to be governor

Munyiri: The Biggest fraudster in Nyeri wants to be governor

By John Kamau, Editor,


With a catchy tag as an economist at the top of his campaign posters, Peter Maina Munyiri commonly known as Wamunyiri, the Chama Cha Kazi governor’s candidate for Nyeri, covertly covers the many skeletons in his closet, including theft and money laundering he executed as Family Bank Chief Executive.

Known for being arrogant, even to his campaign agents, the crooked former Family Bank Chief Executive now wants to be the Nyeri county chief to continue plundering public resources.

The disgraced former Family Bank Chief Executive has been going round the county preaching the gospel of prosperity if the voters elect him the county boss but conveniently forgetting  to tell them how he swindled Kenyan taxpayers millions of shillings in the infamous National Youth Service (NYS) heist.

 Wamunyiri, as he often likes to call himself, is using the resources he looted from the bank and the NYS kickbacks to campaign for the top county post.

The former banker whose left the bank in disgrace following the NYS scandal faces several criminal charges before the Milimani chief magistrate court in Nairobi for money laundering related to the Sh1.6 billion NYS phase I scandal.

Despite aiding in money laundering against the law, Wamunyiri wants to escape justice by becoming the Nyeri’s county chief as he assumes the post will shield him from criminal prosecution.

Wamunyiri, alongside six others who were sacked by Family Bank, including KTDA Branch Manager Robert Oscar Nyaga, was charged with nine counts, including failure to report unusual transactions carried out by the NYS chief suspect, Josephine Kabura’s three bank accounts.

He is out on a Sh1 million bond.

In August 2016, Kenyans got to know Wamunyiri better when he used his looted resources to demand a school in Karen be closed because of what he termed as noise pollution.

The quick and easy money of the NYS scandals had made his head bigger and he wanted the St Elizabeth Academy – Karen Limited, shut down.

After being kicked out of Family Bank, Wamunyiri tried to play golf at Karen Gofl Club but no member wanted to play with him.

They would all look for excuses to run away from the pitch whenever Wamunyiri was spotted.

In the NYS scandal, since no major corruption can occur without the involvement of banks, the NYS Mobsters, both in government and outside, knew searched for a business partner who would be willing to facilitate the theft, for a fee.

They quickly arrived at the hopelessly greedy and restless Wamunyiri, then Managing Director, Family Bank.

Munyiri caught the eyes of one, Benson Gethi, reportedly his village mate.

They were on a similar mission, quick and easy money.

Gethi had connections in government from which they could steal funds and Wamunyiri had a bank that they could use to launder the stolen funds.

Wamunyiri hastily introduced Gethi to open fraudulent accounts at the Family Bank, and the money laundering game commenced.

The fraudulent accounts that Wamunyiri helped open were used to launder the billions of poor Kenyans funds from NYS.

After the NYS saga, many people run away from him

As a banker with over 15 years’ experience, Wamunyiri was clearly a key architect of the money laundering scheme and as a senior banker and Chief Executive there was no way illegal transactions of such magnitude would have taken place without his knowledge.

There is also no possibility that a Chief Executive officer of a bank like Family Bank would naively allow himself to be used and dumped by the political crooks in the NYS saga in the name of collecting deposits for his bank.

Wamunyiri had joined the party and as part of these connections he quickly got himself a firearm license and today has a gun that he let anyone who cares to listen to know he has.

Wamunyiri was the linkman to the politicians and shadowy figures around NYS who would call him directly anytime they needed the looted NYS bucks withdrawn.

All these transactions were done against the industry regulations by Central Bank of Kenya (CBK) and Wamunyiri personally authorised them to pass through Family Bank so that the stolen funds would be shared between the involved politicians and the mob.

In return, Wamunyiri as CEO received huge cash payments in brown envelopes as facilitation.

The multi-billion shillings transfers were all illegal as was confirmed by government auditors who revealed that nothing had been supplied to NYS.

Any serious bank should always ask what the payments are for.

In Wamunyiri’s bank, documentation did not matter because his word was the required documentation.

If he hadn’t accepted to be compromised, the blatant theft would not have taken place.

Inside Family Bank, Wamunyiri earned the title Mr 10 % because he always asked for 10% of any fixed amount he facilitated.

Besides NYS heist, Wamunyiri stole at Kenya Commercial Bank, where he was the Deputy Chief Executive to Martin Oduor.

He had severally tried to throw out Oduor but was exposed.

Wamunyiri micromanaged the Triton Scandal where he also received millions of shillings from fugitive Yagnesh Devani.

He had an all-expenses paid holiday for himself and his family in Dubai, as a bonus.

But the Board at KCB was quick enough to see his schemes and cut short his tenure, paving way for Joshua Oigara to clean up Wamunyiri’s mess.

In June 2020, the United Kingdom (UK) government ruled for the extradition of Devani to face charges at home, in Kenya.

Wamunyiri now wants to be Nyeri governor as he knows the hammer will fall on him hard.

In late 2008, Devani, caused a nationwide fuel shortage for profits, in what became commonly known as the Sh7.6 billion Triton oil scandal.

The Court of Appeal in the UK dismissed his application seeking asylum in the UK, setting the ground for his extradition to Kenya where he faces several charges of serious fraud.

Devani has been on the run for the past 12 years.

Back to Wamunyiri, as they worked on NYS looting, to quench his greed, he was promised Chief Executive at National Bank of Kenya and, therefore, didn’t care much about Family Bank sinking since he would make money in the scheme then move his successful looting career to NBK.

After the explosion of the NYS Scandal, as it is the norm with many officials, many jumped boat abandoning Wamunyiri and those in the political world blocked his number and never responded to his messages.

It is said that many staff at Family Bank celebrated when he was sent packing.

Family Bank was, however, fined Sh65 million in the Sh791 million scandal.

According to the documents filed in court, a total of Sh24.5 million was deposited into the NYS account while the balance of Sh40 million deposited as court fine.

His deep pockets owing to the looting of NYS and Family and KCB in the Triton scandal meant that Wamunyiri delayed Ethics and Anti-Corruption from taking him to court through bribery.

The man who damaged family bank reputation has not fully paid for his sins and now wants to loot Nyeri County dry.

Nyeri voters should be wary of voting for a person who belongs to Kamiti Maximum Prison.

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