The prosecution on Friday accused the former Chief Executive Officer (CEO) of the Development Bank of Rwanda Alex Kanyankole of influence peddling, favouritism and soliciting for and receiving illegal benefits in order to offer a service.
During the hearing Friday before Nyarugenge intermediate court in Kigali city, the prosecutor also alleged that Kanyankole received gifts from one client of the bank to get loans worth about 8 million
It said that apart from an unpecified amount given in cash to Mr Kanyankola, the same client also donated some gifts to the the banl manager including a bio disc and eye glasses.
In return, Kanyankole allegedly approved two loans worth about $8 millions for the same local factory based in Kigali.
In addition the former bank manager is also accused to be responsible of the loss estimated at $8 million, which left the 50-year-old bank on the brink of collapse.
Development Bank of Rwanda , whose major mandate is to finance investments in strategic areas of the economy, has been run down to the extent that its capital levels are almost depleted due to the high number of non-performing loans.