Controversial Ndichu twins start a war with CBK over regulation
The Ndichu twins have ignited a feud with the Central Bank of Kenya (CBK) over-regulation, taking aim at Compliance Director Wafula.
Wapi Pay founder and director Eddie Ndichu launched a verbal attack against CBK Governor Kamau Thugge and Compliance Director Timothy Wafula during a Fintech conference.
Ndichu, one-half of the controversial Ndichu twins, criticized Wafula and CBK, accusing them of lagging in modern regulations.
He expressed frustration that the same individual who previously handled his compliance matters in banking now oversees them in Fintech.
Ndichu’s remarks suggested a belief that Wapi Pay should not fall under CBK regulation, asserting that the institution remains outdated compared to global standards.
He indicated a desire for partnerships with global entities like Mastercard or Visa, lamenting that CBK poses a hindrance.
Despite Ndichu’s criticism, the Central Banker Report Cards, which evaluates central bank performance worldwide, ranked Kenya’s Central Bank eighth globally.
Ndichu’s stance has drawn ire from CBK technocrats, who perceive his demands for preferential treatment unfavorably.
Ndichu’s contentious remarks underscore a broader conflict between fintech innovators and regulatory authorities.
Watch the link of Ndichu bitching about the Central Bank of Kenya .
Controversial Twins
In 2021, the Ndichu twins were captured on video beating up a woman who had refused to go home with them following a drinking session.
The ladies, who were allegedly assaulted by Eddie Ndichu and his twin brother Paul Ndichu, came forward to give their side of the story.
Through their uncle, Philip Murgor, the two ladies, Stephanie Murgor and Cheryl Murgor, recounted the ordeal they went through at the hands of the twin brothers.
According to a statement released by their uncle Philip Murgor, the ladies had gone to the hotel to attend a wedding after-party at Emara Lounge, accompanied by their two male friends – Samuel Ramdas and Patrick Koech. Later in the night, as they were having a good time with their friends, Eddie reportedly made an improper pass at Stephanie.
This prompted the 24-year-old lady to ask him if she was the husband of former Citizen TV anchor Janet Mbugua. The question was, however, answered by a lady who was in the company of the two brothers.
“One of the so-called ‘Ndichu Twin Brothers’ dressed in dark clothing made an improper pass at Stephanie, to which she responded; ‘aren’t you the husband of Janet Mbugua?’
The lady who was with the twin brothers then shouted ‘Ex-husband,’” Philip Murgor narrated. A fight broke out, and the brothers beat up the girls.
In the same year, it was revealed that Eddie had been beating his TV personality wife, Janet Mbugua, like a dog.
The beatings were worse than the treatment of a stepchild, and the lovely Janet couldn’t take it anymore, so she ran away for her dear life.