{UAH} Ocen/Pojim/WBK: Spotlight now turns on Eurobond projects

http://www.nation.co.ke/news/Spotlight-now-turns-on-Eurobond-projects/-/1056/3199770/-/392o0t/-/index.html

Spotlight now turns on Eurobond projects

Tobiko says EACC has recommended special audit on how the funds were used.

 

Thursday May 12 2016

 

Director of Public Prosecutions Keriako Tobiko during a past session at the Milimani Law Courts in Nairobi.

 

Mr Tobiko said he was studying EACC recommendations to form a special audit of the Eurobond project after after finding no criminal culpability of officials involved in the money trail. PHOTO | PAUL WAWERU | NATION MEDIA GROUP  

 

In Summary

·       DPP Keriako Tobiko said he was studying "independently" recommendations of the Ethics and Anti-Corruption Commission.

·       The move will be a blow to Cord and a section of civil society groups who have maintained that part of the money never reached Kenya.

·       Cord leader Raila Odinga has used the alleged financial irregularities to paint the government as corrupt.

 

By JOHN NJAGI

The focus of investigations into the Eurobond allegations has shifted to projects undertaken following reports no funds were lost.

 

Director of Public Prosecutions (DPP) Keriako Tobiko said he was studying "independently" recommendations of the Ethics and Anti-Corruption Commission that a special audit of the projects be undertaken after finding no criminal culpability of officials involved in the money trail, in which Sh176 billion is alleged to have disappeared.

The move will be a blow to Cord and a section of civil society groups who have maintained that part of the money never reached Kenya and was spent while in an offshore account.

Cord leader Raila Odinga has used the alleged financial irregularities to paint the government as corrupt, sparking sharp reactions by Jubilee leaders who have termed him an "economic saboteur."

The scandal has returned to the spotlight with the death of prominent businessman Jacob Juma.

Cord leader Raila Odinga has claimed Mr Juma was "executed" because he had information on the Eurobond affair.

 

Mr Tobiko said the EACC had made the same recommendations after a special audit of the money trail from the offshore account to the Consolidated Fund had been done by Auditor-General Edward Ouko.

 

"The EACC, after covering the outstanding areas I had identified, has resubmitted the file and reiterated its earlier recommendations that the file be closed for lack of evidence of criminal culpability on the part of any government official and that the matter be referred to the auditor-general for a special audit on the utilisation of funds on development projects implemented by ministries during the Financial Years 2013/14 and 2014/15," Mr Tobiko said.

 

"I shall independently review the file and make a decision thereon based on the law and evidence," he added.

 

Treasury Cabinet Secretary Henry Rotich has maintained that the Eurobond funds, after paying off an international loan, were allocated to ministries and other departments for development projects.