A new audit conducted by Auditor General, Nancy Gathungu on 26,November, 2024,reveals that out of the 2.97 trillion raised by the government, 2.67 trillion alone, was deposited in the Consolidated Fund, leaving a deficit of 300 billion which apparently no one can account for.
How can no one explain where the money disappeared to, when clearly there was someone in charge? The National Treasury, The Central Bank of Kenya, The Office of the Auditor General, The Office of the Controller of Budget and The Parliament of Kenya. Should give an explanation and all of them, have gone mum.
The National Treasury takes the bigger chunk of the blame for it is them who handle the day to day operations of public debt including; managing the debt register, issuing bonds and borrowing. That being said, they should know exactly who is behind this.
CBK must also have a hand in this as they administer domestic debt, manage payments, redemption of bonds, and manage relevant government bank accounts. They also must know where the leak in the boat is.
If these major institutions are not speaking up regarding this then the public’s trust in them will definitely be eroded.
What is also raising eyebrows is the fact that the 2.67 trillion, deposited in the Consolidated Fund, was used to pay domestic debt, rather than using it for its intended purpose- that is development of projects like roads. ( When the government needs more money for development, more than what it can collect from tax-payers, it borrows money from investors, with a promise of returning it with interest)
It is so surprising that this money had gradually disappeared during the 6-year period, that is between 2017-2023. And that also no one noticed, not even the Office of the Auditor General (in charge of reviewing the accounts and public records of the government),who reported the matter just yesterday, 2 years after the occurrence.
The public on the other hand is silent, perhaps due to “corruption fatigue”, usually caused by persistent corruption cases. If those in office are unaccountable and the judiciary also dismisses corruption cases so often. The public, who then have less faith in democracy, have less power to question.
Kenyans have tried questioning, they’ve taken to the streets time and again this year, but it has cost them innocent lives, especially young lives. Now they’ve retreated due to fear instilled, by the same government that should be answerable to them.
Whistle blowers are silenced by arrests or abductions and opposing forces are offered jobs so that there remains no one to raise questions.The media should definitely bring this up by setting up an agenda to end corruption for good.
