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Standard Group is recognized as a leading multi-media house in Kenya with a key
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Controller of Budget, Margaret Nyakang’o. [Kelvin Karani, Standard]
Controller of Budget, Margaret Nyakang’o has been charged at a Mombasa court with multiple counts of fraud, false pretence, and operating a Sacco without a license.
Nyakang’o, who appeared before Mombasa Law Court Chief Magistrate Alex Ithuku on Tuesday, December 5, denied all charges and was released on a Sh2 million bond with a similar surety, or an alternative cash bail of Sh500,000.
“It is her constitutional right. I grant her Sh2 million bond with a similar surety and an alternative cash bail of Sh500,000,” ruled Ithuku.
Nyakang’o, who was represented by lawyer Godfrey Mutubia, is accused alongside 10 others. The Director of Public Prosecution (DPP) requested the court to summon the absent co-accused.
It is alleged that she was arrested in Mombasa while attending an event, where she was trailed and subsequently arrested.
Controller of Budget Margaret Nyakang'o arraigned in a Mombasa Court, pleads not guilty to charges of forgery and conspiracy to defraud, released on a Sh2 million bond or an alternative cash bail of Sh500,000, case to be heard on December 13. pic.twitter.com/5VHIcYa1De
Earlier, Nyakang’o denied claims that she had been arrested saying she presented herself to the police station to record a statement on the said charges, which are connected to a complaint made against her and 10 other people in 2016, before she assumed the Controller of Budget office.
The Office of the Director of Public Prosecutions (ODPP) approved the charges in a letter to the DCI on November 30.
Nyakang’o, who took office in June 2020, recently warned of the government’s potential inability to render crucial services due to the weakening shilling against the dollar, which has led to a sharp increase in public debt.
In her National Government Budget Implementation Review Report for 2022/23, the Controller of Budget noted the country’s significant amount of public debt denominated in foreign currencies, which makes it vulnerable to currency fluctuations and exchange rate risks.
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
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