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October 17, 2017

EACC wants Eurobond file closed over lack of evidence, recommends projects audit

A file photo fo Ethics and Anti-Corruption Chief Executive Halakhe Waqo.
A file photo fo Ethics and Anti-Corruption Chief Executive Halakhe Waqo.

The EACC has found no evidence that part of Sh250 billion raised from a Eurobond has been stolen by government officials as the Opposition says, but it has called for an audit into related projects, the chief prosecutor said on Friday.

DPP Keriako Tobiko ordered the Ethics and Anti-Corruption Commission (EACC) to probe the use of the funds after Opposition leader Raila Odinga said the government could not account for Sh140 billion from the sovereign bond.

"EACC had found no evidence of criminal culpability on the part of any government official and therefore recommended that the file be closed," Tobiko said in a statement to newsrooms on Friday.

Tobiko said that the files will be reviewed before the office of the DPP reaches a decision based on the facts and evidence.

In the letter to the DPP, EACC recommended that the matter be referred to the office of the Auditor General for proper accounting.

“The files should be forwarded to the Auditor General, being the independent body with the mandate to audit accounts," the EACC said.

The commission said the AG should carry out a special duty of development projects by ministries, departments and agencies in the 20013/14 and 2014/15 financial years.

This, it said, will ascertain how the funds were spent and whether there was value for money.

Tobiko had in December 2015 ordered the CID and EACC to interrogate all parties involved with the fund.

Cord leader Raila Odinga was summoned to provide information on Eurobond proceeds which he has insisted were misappropriated.

Treasury CS Henry Rotich has denied that any portion of the funds from the debut bond is unaccounted for.

Corruption has been a big hindrance to businesses in Kenya though in recent months the government has taken more than 300 corruption cases to courts, part of an anti-corruption drive by President Uhuru Kenyatta.

Uhuru's popularity has all the same been weakened by public frustration that top officials are not being prosecuted for corruption.

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