CBK Governor Revokes Licence of Nairobi based Ventures Forex Bureau

The Central Bank of Kenya (CBK) Governor Dr Patrick Njoroge has revoked the licence of Nairobi based Ventures Forex Exchange Bureau Ltd.

Ventures Forex Exchange Bureau which operates from Bishop Magua Centre, along Ngong Road, Nairobi has been in operations since 26th August, 2013.

Under Section 33D (1) of the Central Bank of Kenya Act, and regulation 6 (2) of the Central Bank of Kenya (Foreign Exchange Business) Regulations, 2007, the Central Bank of Kenya Governor can revoke a licence of an authorized dealer when they;

(a) cease to carry on business in Kenya or goes into liquidation or is wound up, or is otherwise dissolved; or

(b) fails to comply with the provisions of this Act or any condition attached to a licence.

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