National Assembly to launch investigations on money hidden abroad

[Photo: The elephant]

Nov, 19th 2020 – The National Assembly has launched investigations into billions of shillings hoarded abroad believed to belong to government officials. In 60 days, the Finance and Planning Committee is expected to report to the House on the amount of money in offshore accounts.

It will work with the Ethics and Anti-Corruption Commission (EACC) on designing ways of returning the money. Nominated MP Godfrey Osotsi wants the committee to investigate the manner in which the money ends up in offshore accounts. He also wants the Assets and Recovery Agency and the EACC to speed up the recovery efforts.

Mr. Osotsi wants the National Assembly to establish a mechanism that will ensure the repatriated assets are put to good use. He demands that a list of the individuals with money abroad, weather public or private citizens, made public. The team estimated that Kenyans have been losing an average of sh40 billion annually through illicit financial flows since 2011.

He said, “Getting the money will go a long way in boosting Kenya’s post-coronavirus recovery and help ease our debt burden.

The lawmakers say that it is time for the country to be hell-bent on dealing with people who exploit the country dry to invest abroad. Rarieda MP Otiende Amolo added that the constitution prohibits a State officer from having an account outside the country. He said, “There is a legitimate presumption that anyone who keeps money abroad most likely does not want to explain its source. We should look into that.

Tharaka MP George Murugara added that corruption is another pandemic that is affecting Kenya. “The money stuffed abroad can be brought and used to help Kenyans,” he said

Let us take advantage of the mutual assistance we signed with other countries. Let the committee move with speed and shed light on what has been happening,” Igembe North MP Maoka Maore said

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