The Nationwide Treasury constructing in Nairobi. FILE PHOTO | NMG

Prime Treasury officers who accepted the withdrawal of Sh6.14 billion 4 days earlier than final 12 months’s common elections to purchase out non-public fairness agency Helios in Telkom Kenya danger repaying the cash after Parliament refused to regularise the expenditure.

The Nationwide Meeting’s Finance committee desires the Home to reject the approval sought in respect of the cash that was spent with out the approval of Parliament on the time.

Learn: State absolutely acquires Telkom Kenya in Sh6.09 billion deal

The federal government ended up absolutely proudly owning Telkom Kenya after the acquisition of Helios’ 60 % stake.

The cash used to purchase out Helios was withdrawn below Article 223 of the Structure and disbursed on August 5, 2022.

Approval for the expenditure was to be achieved later however Parliament has now declined to rubber-stamp the deal.

“If the Home rejects that withdrawal (Sh6.142 billion), all officers who made the transaction will likely be held to account and made to repay the cash from their pockets,” Kuria Kimani, who chairs the Finance and Planning committee, stated in suggestions to Funds and Appropriations Committee (BAC).

“Article 223 of the Structure has been blatantly abused within the withdrawal of Sh6.142 billion to pay a non-public individual.”

Learn: Treasury purchased Sh6bn stake in Telkom 4 days to elections

Mr Kimani who appeared earlier than BAC that’s receiving committee suggestions on the scrutiny of the Supplementary Funds stated the withdrawal of the money was not an emergency.

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