Kenya has signed a framework with the government of Jersey for the return of Sh516 million corruption proceeds.
The deal will also see Kenya strengthen collaboration with other countries to prevent, identify and provide restitution mechanisms of illicit financial flows.
It was signed on Tuesday
by Attorney General Kihara Kariuki and Jersey's Minister for External Affairs Senator Ian Gorst.
Gorst
said measures to forestall the transfer and harbouring of illicit wealth from other countries had already been put in place in Jersey.
Kenya and Jersey first agreed to a mutual
legal assistance request in 2007 during investigations into the Anglo Leasing cases.
The request was instrumental in freezing
approximately 4 million sterling pounds belonging
to
suspects that had been stashed in Jersey banks.
"Our respective governments’ cooperation in the timely sharing of financial intelligence and subsequent recovery of assets is critical in the fight against corruption and money laundering,"
Kariuki said.
"Cooperation, particularly with regard to financial intelligence on politically exposed persons and other Kenyan citizens holding accounts within the Jersey financial system, will be crucial as Kenya continues with the war on corruption."
The two countries further committed to exploring areas of collaboration on matters related to double taxation while finalising the asset recovery agreement.
They have also signed a memorandum of understanding on financial
cooperation.
Treasury Cabinet Secretary Henry Rotich and Gorst signed the memorandum on behalf of their respective governments.
"Citizens must feel the benefits of the illicit funds that are being returned and that is why signing this agreement and the MoU is important. It is a framework that will be replicated with other countries," Gorst said.
In March, the Ethics and Anti-Corruption
Agency said Sh577 million
stashed abroad from two major scandals linked to Kenyans had been recovered.
CEO Halakhe Waqo said the
money withheld by the UK government will not be directly channelled to the Exchequer, but used for social
development projects.
The Jersey scam involves
former Kenya Power and Lighting Company boss Samuel Gichuru and former Finance minister Chris Okemo.
They were accused of hiding more than Sh525 million
on Jersey Island in a Windward Trading Bank account.
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