Njung'e wrote:"The Central Bank of Kenya is on Thursday afternoon expected to announce regulatory sanctions against three major commercial banks accused of being partly responsible for the plummeting shilling.
An audit carried out by the Central Bank revealed that the three institutions had forex transactions worth Sh22 billion last week."
This is the wrong way to go about arresting the depreciating shilling the reason being any outflows from this banks are submitted to CBK before execution.
What this means is that CBK has the most inefficient systems and staff who do not have signals to warn them of an impending strike like we have witnessed this past week.
CBK will antagonize the players in the forex market and although in the short term it might think its winning it might pay in future if the sanction they will impose would affect the said banks substantially.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3