- Busia Senator Okiya Omtatah wants retired President Uhuru Kenyatta and his successor William Ruto to be responsible for Kenya’s huge debt.
- Omtatah and other complainants filed a petition in court accusing the two of violating section 226 (5) of the Constitution.
- The MP claimed that Eurobond loans were obtained without Parliament’s approval and that the funds were deposited into overseas accounts.
Busia Senator Okiya Omtatah has accused the retired president Uhuru Kenyatta and President William Ruto for allegedly illegally borrowing KSh 6.8 trillion.
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Why Omtatah Wants Independence, Ruto are charged
In a petition filed in the Supreme Court, the MP accused the Jubilee administration of abusing the large amount of loans it had borrowed.
Omtatah wants independence and senior members of his administration to be responsible for the KSh 4.6 trillion loans that the nation gave when he was in office.
He also claimed that the KSh 2.2 trillion debt was concentrated under the President William Ruto It was “disgusting.”
“Billions have been borrowed through non -budget loans; loans that have not been approved in parliament for approval, borrowed unconstitutional and has nothing to do with any development projects, as required by law. He said.
The MP wants former Minister of Finance (CS) Njuguna Ndung’u, Budget Controller Margaret Nyakang’o, and Inspector General Nancy Gathungu to be responsible.
While announcing the loans, including Eurobond, being disgusting, the activist and eight other complainants said independence and former government officials should be charged with debts found between the 2014/2015 and 2021/2022 financial year.
He claimed they violated Article 226 (5) of the Constitution.
“Kenya has no debt. Everything we owe was paid. The borrowers need to clean themselves,” He said.
Was the Eurobond funds misused?
The senator claimed that Eurobond loans were obtained without Parliament’s approval and that the money was deposited into overseas accounts.
“The government made the money at risk of misappropriation by transferring Eurobond funds illegally to an overseas account instead of the Treasury’s main fund,” The complainants said.
The applicants claimed that contrary to the Public Financial Management Act (PFMA), the Constitution and other laws, the government borrowed large sums of money from the domestic and foreign market.
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How much is Kenya in debt?
Omtatah and other activists noted that the negligent borrowing of the two administrations prompted Kenya to accumulate more than KSh 11 trillion, and an annual payment of KSh 1.7 trillion.
They want the court to declare such loans, including Eurobond, “fraudulent programs used to steal large quantities from the public treasury”.
“Applicants are asking this court to hold personal parties for the loss of any funds collected through displaced loans and order them to cover the loss.”
Kenya is billion billions from the UAE
Even when Omtatah moved to court, Kenya was expected to receive the first phase of KSh 194 billion from the United Arab Emirates (UAE).
As this financial year is completed, the Treasury Minister John Mbadi He revealed that Kenya would receive $ 500 million (Ksh 64.8 billion).
After Kenya terminated its plan with the International Monetary Fund, Nairobi chose to obtain a loan from the UAE.
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