The Central Bank of Kenya (CBK) is pushing for significant regulatory authority over digital payment companies through the proposed National Payment System Bill, 2026. This legislation would empower CBK officers to conduct unannounced raids on these firms.
Under the new bill, CBK officials would have the right to access company premises, inspect records, interview employees, and access computers and data. This is intended to ensure compliance with existing laws and regulations.
Additionally, the bill would enable the CBK to remove top executives from these firms if they are found to be in violation of the law or if the companies face financial instability. This move reflects the CBK's commitment to strengthening oversight in the rapidly evolving digital payment sector.