EACC to release Eurobond saga report

The Ethics and Anti-Corruption Commission (EACC) will on Friday handover an investigations report on the controversial Eurobond saga to the Director of Public Prosecutions (DPP) Keriako Tobiko.

The DPP had tasked the EACC and the Directorate of Criminal Investigations (DCI) to investigate claims by the Coalition for Reforms and Democracy (CORD) that Ksh 140 billion was lost through dubious dealings.

On December 31^st, 2015, CORD issued a 14-day ultimatum to the government and all companies that were involved in transactions in the Eurobond scandal to explain how the money was spent and who are the signatories of the accounts holding the money.

“Kenyans are victims of a single case of theft that is without precedent in our history. As citizens we have a right to a full and proper accounting of all loans borrowed in our names. Our children will be paying for this commercial debt and the thought that parts of it may have been stolen is too outrageous to contemplate,” read the CORD statement on the eve of the New Year.

Early this week, the DPP said that EACC had assured him that it had completed investigations into the scandal and the report was ready.

The opposition, led by Raila Odinga, has been stressing that billions shillings were looted and government’s books regarding the Eurobond were altered.

Odinga said that this was discovered after reviewing the Government Budget Out turn for the Financial Years 2013/14 and 2014/15 published by the National Treasury in two documents namely the Quarterly Economic and Budgetary Review for the Fourth Quarter of the FY 2014/15 dated August 2015.

CORD said that it had also studied the Budget Review and Outlook Paper dated September 2015.

“From the reviews, it is clear to us that the greatest case of theft in Kenyan history is either underway or has already been concluded in one fell swoop in the name of Eurobond,” said Odinga.

The government has dismissed the allegations as baseless saying that no money was lost and the Eurobond funds were properly utilized.

By Cynthia Nduta