House team scrutinises NYS cash paper trail

New information shows more than Sh695 million from the National Youth Service may have been transacted through Guaranty Trust Bank (GT Bank).PHOTO: COURTESY

New information shows more than Sh695 million from the National Youth Service may have been transacted through Guaranty Trust Bank (GT Bank).

According to a paper trail in the possession of the National Assembly Public Accounts Committee, the money may have landed in the bank before finding its way to Faulu MicroFinance and Sidian Bank (Formerly K-Rep), where individuals and businesses held suspicious accounts.

Directors of GT Bank appeared for grilling by the committee on Monday evening, during which members scrutinised the large transactions that may hold the key to unravelling the scandal.

"The paper trail shows so many names... it is very complex. I'm not sure if we will ever recover the money. The money has reached its owners," said a committee member.

The committee is investigating the loss of NYS cash that members now suspect could reach Sh4 billion lost through sham tenders awarded to well-connected individuals.

Former Devolution Cabinet Secretary Anne Waiguru, whose ministry was at the centre of the transactions, is among those implicated in the scam.

The committee yesterday grilled another key suspect, Ben Gethi, who had earlier reported that his life was in danger.

The committee spent over four hours grilling the businessman, but members remained tight-lipped on what had transpired during the probe.