Gov’t did not embezzle Eurobond proceeds- Ruto

Deputy President William Ruto has refuted claims by Coalition for Reforms and Democracy (CORD) leader Raila Odinga that the government embezzled loans borrowed from foreign institutions.

Ruto said CORD claims that the government cannot account for the Eurobond proceeds are unfounded adding that the opposition has failed to prove their claims.

Speaking during a funds drive at Ol Jororok Sub County in Nyandarua County, Ruto hit out at CORD leaders for demanding to meet Central Bank Governor Patrick Njoroge over the Eurobond saga.

The Deputy President further stated that government has initiated development projects across the country using borrowed funds contrary to claims by the opposition CORD coalition.

The Deputy President called for respect for government and independent institutions saying those calling for disbandment of such offices, among the IBEC and the reforms in Judiciary, were misplaced and ill advised.

The DP observed that the electoral body and the Supreme Court of Kenya are institutions created by the Kenyan Constitution and cannot be disbanded by roadside pronouncements.

He said disbanding such institutions was equivalent to constitutional coup.

He has maintained that the Independent Electoral and Boundaries Commission can only be reconstituted through the legal means refuting calls by the opposition to reconstitute it.

This comes in the wake of the CORD’s threats to storm IEBC offices on Monday to have it disbanded.

Two days ago, the Coalition for Reforms and Democracy (CORD) wanted the Central Bank of Kenya (CBK) to take disciplinary action against Governor Patrick Njoroge for allegedly denying them access to public information on Eurobond.

The opposition says the Constitution guarantees them right to information.

Speaking to the media Thursday, CORD Principals Raila Odinga, Kalonzo Musyoka and Moses Wetangula insisted that the Eurobond proceeds had been embezzled.

The CORD leaders criticized Njoroge after he rejected a formal request to meet and discuss the alleged theft of Ksh250 billion through the Eurobond saying his move confirms their fears.

In a rejoinder, State House accused Raila Odinga of insincerity after accusing the CBK Governor of denying him access to public information on Eurobond.

In a statement sent by the Presidential Strategic Communications Unit’s (PSCU) Eric Ng’eno, State House revealed that Raila was requested by the Ethics and Anti-Corruption Commission (EACC) to provide information and voice his concerns, but he rejected the invitation.

“He was again invited by Treasury Cabinet Secretary Henry Rotich, who published all relevant documentation on the Ministry’s website, and again, Odinga declined the invitation. It is interesting to note that the invitation to Odinga by the Treasury for a face-to-face encounter was intended to serve the purposes, which he required of the Central Bank Governor,” read the statement in part.

The statement went on to state that Raila “is not interested in facts, information, data or documents because he has publicly refused to receive them”.