In Kenya’s financial sector, questions of accountability have once again been raised after an incident involving Equity Bank and one of its staff members.
A teller, identified as Gilbert Kiptoo Lelon from the Kahawa branch, has been taken to court over allegations of theft amounting to more than KSh 1.2 million.
The accusations point not only to theft from the bank itself but also from a customer, making the matter even more concerning.
This case exposes the cracks in one of the country’s biggest banks and the weaknesses in systems that are supposed to protect both customers and institutions.
According to prosecutors, the events started on August 11, 2024, when Lelon allegedly took KSh 800,000 from the account of a customer named Mary Kanini Kamuya.
That money was entrusted to the bank, and its disappearance raises serious doubts about internal checks at Equity Bank.
On the following day, August 12, 2024, Lelon is said to have stolen another KSh 454,000, this time directly from Equity Bank itself.
These two alleged acts, carried out in quick succession, suggest that either oversight mechanisms were missing or the bank ignored warning signs. For a company that manages billions in customer deposits, the fact that such amounts could disappear at the teller level shows a dangerous lapse in control.
When brought before Senior Principal Magistrate Dolphina Alego at the Milimani Law Courts, Lelon was charged with stealing by servant under Section 281 of the Penal Code.
This law is clear about protecting employers from dishonest staff, and yet the fact that Equity Bank customers now have to wonder about the safety of their money shows the bank has failed in its duty.
Lelon pleaded not guilty and will remain in custody until a pre-bail report is prepared. While the legal process will determine his guilt or innocence, the damage to customer trust has already been done.
Equity Bank has often marketed itself as a trusted financial partner for ordinary Kenyans, especially those from low-income backgrounds. But incidents like this are reminders that the bank may not have sufficient safeguards in place.
From left to right: Equity Group Chief Finance Officer, Moses Nyabanda, Equity Group Managing Director and CEO, Dr. James Mwangi and Equity Group Chief Internal Auditor, Beth Kithinji, during the Q1 2024 Investor Briefing event. PHOTO/COURTESY
Customers like Mary Kanini Kamuya should not have to worry about their savings being tampered with by the very people entrusted to keep them safe. This is not the first time Equity Bank has been linked to cases of internal fraud, yet it continues to present itself as a secure option for millions. Such contradictions suggest that the bank’s leadership has failed to properly address corruption within its own walls.
The prosecution insists that Lelon knowingly abused his position of trust, taking advantage of his access to bank funds. Whether or not he is ultimately found guilty, the case reflects badly on Equity Bank’s systems.
A loss of more than KSh 1.2 million, split between an individual customer and the bank, should have immediately raised red flags. Instead, it took legal intervention for the matter to come to light. This points to negligence on the part of management and inadequate monitoring mechanisms.
All eyes will be on the court process. However, beyond the courtroom, Equity Bank must also be held accountable for the weaknesses that allowed this to happen.
Customers deserve stronger protection, and unless the bank confronts these failures head-on, more cases of fraud and theft will continue to erode confidence in the institution. Trust is the foundation of banking, and Equity Bank’s repeated lapses suggest it is putting that trust at risk.
This case is not just about one teller, it is about a financial giant that has once again been exposed for failing to protect the very people it claims to serve.
