My wealth is not Sh9b, says Kidero

Former Nairobi governor Evans Kidero in the dockm at a Milimani court where he was accused of economic crimes. [Photo: George Njunge / Standard]

Former Nairobi Governor Evans Kidero has denied claims that he is worth Sh9 billion.

In an affidavit filed in court in response to claims by the Ethics and Anti-Corruption Commission (EACC) that he owned properties worth Sh9,005,000,000, Dr Kidero (pictured) accused the agency of lying about his wealth.

Although he admitted owning properties in many parts of the country, Kidero stated that EACC exaggerated their value and that they were bought before he was elected Nairobi governor.

“Their sole intention is to create a false narrative that I illegally acquired wealth while holding public office,” said Kidero.

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Out of the 75 properties cited by EACC, Kidero said he owned only 60 and that they cost him Sh647 million to acquire. The EACC had put the value of the 60 properties at Sh5.5 billion.

He said he did not own the other 15 properties listed by the EACC, including Yala Towers, Muthaiga Heights and rental units along Riara Road.

According to Kidero, EACC used desktop values to arrive at the conclusion that his properties were worth Sh9 billion, without any professional valuation report.

He added that the EACC failed to take into account the number of years it took him to accumulate the properties and the actual purchase prices, and that some of the properties were acquired by his wife and son.

“They even listed my Muthaiga residential home to be worth Sh300 million when we bought it at Sh83 million and the money paid by my wife Susan,” said Kidero.

SEE ALSO :Obado's home, office searched

Kidero said the EACC attached photos of properties that he did not own to create the false impression that he illegally acquired wealth

Kidero further denied claims of money laundering during his campaign for the Nairobi governor seat, arguing that his camping funds totalling Sh423 million was contributed by his friends.

He accused the EACC of making false claims that had injured his reputation, and sought orders to restrain the commission from searching his house or prosecuting him.

Nairobi GovernorEvans KideroSh9 billionEACCYala Towers