National Assembly Looking To Recover Billions Stashed Abroad

November 20, 2020

The National Assembly has instituted a probe into billions of shillings hidden in offshore accounts by corrupt government officials.

The Finance and Planning Committee is expected to report to the House on the amount of money stashed abroad in 60 days.

This follows a petition by Nominated MP Godfrey Osotsi that the Speaker presented to the committee on Tuesday afternoon. The team chaired by Homa Bay Woman Representative Gladys Wanga will work with the Ethics and Anti-Corruption Commission (EACC) to find a way of recovering the money, Daily Nation reports.

Osotsi has tasked 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 and a list of individuals with money abroad made public.

The Nominated MP also expects the National Assembly to establish a mechanism that will ensure the repatriated assets are put to good use.

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

The lawmaker expressed concern that despite efforts to recover stolen monies and assets jointly with Switzerland, the UK and other countries, Kenya has not made notable progress.

Several lawmakers backed the petition saying it’s time for the country to deal decisively with individuals milking the country dry and investing abroad.

Among the MPs was Rarieda MP Otiende Amolo who said the Constitution prohibits State officers from having an account outside the country.

“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,” he said.

Tharaka MP George Murugara added: “The money stuffed abroad can be brought and used to help Kenyans.”

Igembe North MP Maoka Maore said with legal help from New Jersey and the UK, Kenya can recover the money fast.

“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,” Maore said.

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