CS Henry Rotich defends altering laws to allow cash to be held in US account

Controller of Budget Agnes Odhiambo and Treasury CS Henry Rotich responds to questions raised by the Public Accounts Committee at Parliament building. (Photo: Boniface Okendo)

MPs have accused Treasury Cabinet Secretary Henry Rotich of altering laws to allow the irregular payment of funds raised last year through the issuance of the Sh275 billion Eurobond and kept in offshore accounts.

In a meeting with the National Assembly's Public Accounts Committee it was revealed that Mr Rotich relied on two amendments to sidestep the Controller of Budget in the settlement of a Sh53 billion syndicated loan directly from a bank account in New York.