The National Treasury is on the spot over unexplained payment amounting to Ksh 161 billion in the last three financial years.
Through an audit report, Auditor General Nancy Gathungu raised questions over an explained Ksh 161 billion meant to service external debts for the country in the last three financial years.
Appearing before the Public Debt and Privatization Committee of the National Assembly, Nancy Gathungu noted that in the three financial years of 2020-2021, 2021-2022 and 2022-2023, the variance stood at 10% which was above the 5% allowed by law.
- Medical, Pharmacist, and Dentist interns strikes kicks off, says KMPDU
- Felix Koskei denies plot by gov’t to purchase a spy software
- CBK Governor Kamau Thugge grilled over Ksh 14.2B currency printing tender
It was revealed that in the financial years 2020-2021 and 2021-2022, the amount repaid was below what was approved by the Controller of Budget but in the preceding years, the approved amount was a whooping Ksh 77 billion.
According to treasury, the variances were caused by the exchange rate of the Kenyan Shilling against other currencies.
Despite the repayments and loans approved, the Auditor General could not point to any project that benefited from the funding.
She continued by revealing that only 18 out of 32 projects had undergone feasibility study to ascertain the need and that 22 of them lacked evidence to prove that public participation was conducted.
Speaking before the committee was Baringo North MP Joseph Makilap who asked as to whether the finding was a case of corruption.
“This could be an issue for corruption…PFM Act says you don’t procure services and goods beyond your budget. If you do it, it is an offense.” he said
