Margaret Nyakango Released on Sh2 million Bond in Sacco Fraud Case

December 6, 2023

Controller of Budget Margaret Nyakang’o on Tuesday entered a plea of not guilty to numerous charges during her arraignment at a court in Mombasa.

The Controller of Budget is accused of defrauding a woman Sh29 million. She faced four charges, which included conspiracy to defraud, operating an unlicensed Sacco, forgery, and uttering false documents.

Her arrest in Mombasa was based on a complaint filed against her and 10 others, dating back to 2016, a period predating her appointment as the Controller of Budget.

The charges received approval from the Office of the Director of Public Prosecutions (ODPP) in a letter addressed to the Directorate of Criminal Investigations (DCI) on November 30.

Nyakang’o and the ten others were found culpable following a comprehensive review of new evidence, as indicated in the inquiry file.

Subsequently, the remaining ten co-accused individuals were summoned to appear in court.

The Controller of Budget granted release on a Sh.2 million bond, with the option of a similar surety or Sh.500,000 in cash.

The case is scheduled for mention on December 13th.

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