Controller of Budget Agnes Odhiambo refutes media claims over Eurobond

Controller of Budget Agnes Odhiambo has clarified that she was never summoned at State house over claims that she shared confidential Eurobond information with CORD leader Raila Odinga.

Reacting on a story carried out by a local daily (Not The Standard), Ms Agnes Odhiambo said her office enjoys a cordial and professional working relationship with the Presidency.

“It is therefore, not true that the relationship between the Office and State House is strained,” Ms Odhiambo said.

A section of the media claimed she and her deputy had been summoned to State House over Eurobond.

 “On allegations that the Controller of Budget and the Deputy Controller of Budget were recently summoned to State House, I wish to state that by virtue of the Office, the Controller of Budget has been to State House severally for meetings. However, the Deputy Controller of Budget has never visited State House for any meetings,” she said in a statement to our newsroom.

The story appearing in a section of the media also accused her that she confided in Raila that close to $1 billion of Eurobond funds were not transferred to the National Exchequer Account at the Central Bank of Kenya.

“I have never confided in Hon. Raila Odinga that close to $1 billion of Eurobond funds were not transferred to the National Exchequer Account at the Central Bank of Kenya,” she explained.

“All my responses regarding the Sovereign Bond transactions are a matter of public record.  In fact, I have consistently stated that Kshs.196.9 billion was indeed transferred to the National Exchequer Account, which I confirmed from the Central Bank of Kenya statements.”

She further stated that the Office of the Controller of Budget is an independent and transparent institution that operates strictly within provisions of the Constitution, the Public Finance Management Act, 2012 and all other laws on public financial management. 

“The Office prepares quarterly budget implementation review reports for the national and county governments. These reports are based on financial data by Government Ministries, Departments and Agencies, and County Governments and are available to the Public,” she said indicating that any Kenyan can access the reports including the opposition leader.

“With regard to Hon. Raila Odinga’s interview with Citizen Television on 22nd December, 2015, the former Prime Minister may have been referring to Table 3.1 (Statement of Actual Revenue as at 30th June, 2015) on Page 7 of our Annual National Government Budget Implementation Review Report for FY 2014/15, where we reflected the tap sale of ksh.73.81 billion as proceeds of the Sovereign Bond in the FY 2014/15. The other tranche of KShs.88.46 billion of Eurobond money is part of the opening balance of KShs.140.62 billion which is clearly indicated on the same page.”

She took issue with the said media house for portraying her in bad light and reiterated that her office is open to public including the media.

“The Office of the Controller of Budget recognizes the important watchdog role the media plays in holding public officers to account, but this role carries with it the responsibility to be objective, truthful and fair,” she said.

 “My office is always open to enquiries from the media, and we base all our reports and statements on records that are public. I therefore urge the media to contact my office for clarification and comment on any matter relating to my mandate as may be necessary. “