Kenya’s bid to recover millions stashed in offshore accounts

The Government is moving to recover millions of shillings illegally stashed in foreign countries in the fight against corruption.

While reading 2016/17 Budget Statement Wednesday, Treasury Cabinet Secretary Henry Rotich said the Government has traced and is in the process of preparing to seize property and assets acquired using proceeds of corruption.

Rotich allocated Sh2.8 billion to the Ethics and Anti-Corruption Commission and another Sh2.1 billion to the Department of Public Prosecutions and Sh300 million to the Financial Reporting Centre to help fight graft.

He said the UK Government has agreed to repatriate Sh52 million as proceeds of corruption from the Smith and Ouzman case.

He further said the Government is also expecting another Sh525 million from the Jersey Island Government being proceeds from the entity that was used to transfer illicit money from one of the parastatals (Kenya Power).

.

Keep Reading

•  Why your chief could be in office illegally: Laws rendered useless and what they coverPremium
•  Lawyers go for the jugular as crisis looms over expired laws
•  Muranga farmers to benefit from subsidy programme
•  Natembeya tramples on Wetang'ula's toes in pursuit of Luhya Nation greatnessPremium
•  African diaspora to fete Prof Ngugi at US event