MP Abdirahman Abdishakur accused the president of using “millions of dollars stolen from the public through land sales and forced evictions” to finance and launder money into the electoral process.

He stated that the president is attempting to justify the funds by stating that the money obtained from land sales was used to support the elections.

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The operation, carried out on Friday, was confirmed by the Directorate of Criminal Investigations (DCI) on Friday.

Officers from the Nairobi regional office acted on intelligence and raided a location in the Upper Hill area, where the suspects, identified as Ifrah Ali Jeyte and Qamar Salat Abdi, were taken into custody.

According to the DCI, detectives recovered bundles of $100 notes concealed inside a handbag. The cash was later counted at the DCI Nairobi Area Headquarters, confirming the total amount seized.

Both women remain in custody as investigators continue their probe ahead of possible court proceedings. Officials emphasized that the case is ongoing.

The DCI urged the public to report suspicious activity linked to financial crimes through its anonymous tip-off lines, stressing the importance of public cooperation in disrupting counterfeit currency networks.

Kenya, which shares a porous border with Somalia, has increasingly been a target of money laundering and terrorism financing.

In March 2025, the United States warned that unregulated trade between the two countries facilitates illicit financial flows.

Kenya’s National Terrorism Financing Risk Assessment Report, published in December 2023, identified Somalia as the highest-risk source of terrorism financing entering Kenya through both legal and illegal channels.

The report also noted that large sums of money collected within Somalia and entering Kenya pose a significant threat.

Counterfeit and smuggling cases are not new. In October 2022, six Somali women were arrested attempting to smuggle 103 million Kenyan shillings in cash through Nairobi’s Jomo Kenyatta International Airport.

The post Somali Women With Over $560,000 in Counterfeit US Currency Arrested in Kenya appeared first on Kaab TV.

The crisis has also dashed the hopes of bank employees who were expecting pay raises for the new year, with management citing financial challenges.

Local business owners told Kaab TV that after attempting to withdraw funds, they were asked to wait until next week.

“There was no cash available, and they sent us back with nothing,” said Abdirahman Bule, a business owner in Mogadishu.

Mohamed Yasin, who works at a car dealership, expressed frustration after being unable to pay his bills.

“They promised me on Saturday to come back on Sunday. I went back on Sunday, and I got no money,” Mohamed said.

The crisis is reportedly linked to the banks’ heavy investment in a controversial real estate and land auction scheme under the Federal Government of Somalia.

Both banks invested heavily in acquiring public land and constructing properties for sale.

However, the plan backfired as legal disputes over land ownership deterred buyers, leaving the banks struggling to recoup their investments.

Opposition leaders, including former President Sharif Sheikh Ahmed, former Prime Minister Hassan Ali Khaire, and MP Abdirahman Abdishakur Warsame, have strongly condemned the ongoing auction of public lands by President Hassan Sheikh Mohamud’s administration.

In a joint statement issued in early January, the three leaders accused the government of breaching constitutional and legal provisions by auctioning public property.

In Mogadishu, enforced evictions persist as internally displaced persons (IDPs) and vulnerable families are removed from public lands, which are then sold to wealthy businessmen.

Cash proceeds from these transactions are reportedly received directly by President Hassan Sheikh and his immediate family, including his two wives and children, according to multiple sources.

Among the affected sites are former military camps, a public cemetery, schools, and several abandoned government ministry buildings, leaving displaced residents in dire circumstances.

The former leaders have also warned that the real estate initiative could serve as a front for money laundering, posing significant risks to the fragile Somali economy.

Despite the growing concerns, the Central Bank of Somalia has yet to comment on the matter, leaving customers and businesses in limbo as the crisis deepens.

For now, many have no choice but to wait and hope for a resolution, as public confidence in the banking system continues to erode.

The post Cash Crisis Unfolds in Mogadishu Banks Amid Real Estate Scandal appeared first on Kaab TV.

Links to Iran and Militant Groups

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