He said CBK is working with the Department of Criminal Investigations to probe the banks that may be complicit in transacting the looted funds.
Njoroge termed the loss of funds as unreasonably excessive saying the looting has not only led to loss of public funds but also loss of public trust.
“It is unconscionable that such losses of public funds would take place at this moment and age,” Njoroge said.
He said CBK is deeply embedded in the investigations to ensure the funds are traced and recovered and those involved are prosecuted.
“As you know these investigations are in high gear, I just want to let you know that the CBK is working closely with DCI and other agencies on this.”
Njoroge said the investigations are anchored on a number of legislative guidelines including laws on money laundering, combating of financing of terrorism laws, and proceeds of crime and the Banking Act.
He said the investigations involve on-site and off-site surveillance of bank operations to trace how the money was transferred.
“We do target inspections based on the specific information that we may have from other regulators in particular the Financial Reporting Centre or other things that may come to our attention in various ways,” Njoroge said.
He spoke in his office while giving an update on a myriad of issues on financial aspects in the country.
The CBK boss, however, declined to divulge further information on the issue saying the matter was still under investigation.
Njoroge made the remarks as 20 suspects appeared in court Tuesday in relation to the NYS scandal.
The suspects were arrested on Monday and locked up overnight in various police cells.
They are among 64 suspects who the Director of Public Prosecutions Noordin Haji said detectives are zeroing in over the dubious transactions.
They include 40 public servants, 14 directors and proprietors of business entities and 10 companies.
Public Service PS Lilian Omollo and NYS Director General Richard Ndubai are among the key suspects in the Ksh 9 billion scam