Rotich fights to end Eurobond graft claims

Friday January 15 2016

Treasury CS Henry Rotich during a press conference addressing queries on the Eurobond at Treasury on December 4, 2015. PHOTO | DIANA NGILA |

Treasury CS Henry Rotich during a press conference addressing queries on the Eurobond at Treasury on December 4, 2015. PHOTO | DIANA NGILA | NATION MEDIA GROUP

By BRIAN NGUGI
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By OTIATO GUGUYU
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Treasury Secretary Henry Rotich Friday stepped up his fight against accusations of graft in Eurobond saga challenging Cord leader Raila Odinga to provide evidence.

Mr Rotich said various state sanctioned audits including those by the Director of Public Prosecution (DPP), the Ethics and Anti-Corruption Commission (EACC) and the Director of Criminal Investigation (DCI) had absolved Treasury of the misappropriation claims yet Mr Odinga has persisted with his allegations.

The Cabinet Secretary said Mr Odinga was doing it for political gain at the expense of the Kenyan economy. Mr Odinga Thursday called on Rotich to alongside other high ranking government officials to resign.

“Despite these ongoing processes, Hon Raila Odinga has persistently been making allegation that the proceeds of the Eurobond were stolen or unaccounted for. However, when asked to provide any evidence which could assist the investigative arms of Government, he has failed consistently,” said Mr Rotich.

Does not understand

Treasury Permanent Secretary Kamau Thugge said Coalition for Reforms and Democracy (CORD) leader Raila Odinga does not understand aspects of the Eurobond transactions.

He said that the money the CORD leader claimed went missing was in fact just an accounting procedure when dealing with the Central Bank of Kenya (CBK).

Mr Odinga claimed Thursday that Sh87 billion ($999 million) was wired to the Federal Reserve Bank of New York from JP Morgan, the lead manager and could not be traced.

The CS claimed that Mr Odinga’s statements were meant to hurt the Kenyan Economy through sabotage by keeping away investors.

On Mr Odinga’s allegation that Sh88.5 billion of the Eurobond proceeds was missing the CS said that there were no funds lost because as Government received its money and the CBK forex reserves increased.

The Treasury has however been accused of not being able to show Kenyans the specific projects on which the money was spent.