Nipate
Forum => Kenya Discussion => Topic started by: vooke on April 23, 2019, 08:00:31 AM
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Ouko:
“The special audit, therefore, confirmed that the Eurobond proceeds were received, and were fungible (came into one pot), at the National Exchequer Accounts in Central Bank of Kenya and are, therefore, not identifiable to any particular infrastructure project,”
https://www.nation.co.ke/news/Why-you-ll-never-know-all-the-truth-about-Eurobond/1056-5081894-hplce0/
Ndii
The National Treasury has maintained that all this money was disbursed to state departments and spent on development during the financial year.
But the government has failed to corroborate this contention with credible evidence. Instead, it has lied and contradicted itself at every turn.
https://www.nation.co.ke/oped/opinion/The-anatomy-of-a-grand-heist/440808-3035238-j7hk2gz/index.html
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Money was received in kenya, that was easily verifiable by looking at forex reserves. The question was what it was spent on other than the syndicated loan repayment. The reason it can't be tracked is cause it wasn't dispersed within the IFMIS. And that's how the money was stolen.
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No true. The money was budgetary support. It was not earmarked for a project. So it was put in the same pot that included taxes - and disbursed as per the budget lines of that year. CBK have explained it severally. They credited Treasury Consolidated Account with Kshs equivalent to the dollars which they mostly kept in their (CBK) forex account in Feds (USA). That consolidated account is where KRA also banks their cash....so once the money has gone in there.....it cannot get out with Budget Controller - sanctioning it out - as per the budget lines.It also become impossible to say where the money went - except as per the budget.
Why doesn't anybody ask how treasury 20B dollars get disbursed...but go anal about 2B eurobond. Or because those were dollars..and others are Kshs.
Money was received in kenya, that was easily verifiable by looking at forex reserves. The question was what it was spent on other than the syndicated loan repayment. The reason it can't be tracked is cause it wasn't dispersed within the IFMIS. And that's how the money was stolen.
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No true. The money was budgetary support. It was not earmarked for a project. So it was put in the same pot that included taxes - and disbursed as per the budget lines of that year. CBK have explained it severally. They credited Treasury Consolidated Account with Kshs equivalent to the dollars which they mostly kept in their (CBK) forex account in Feds (USA). That consolidated account is where KRA also banks their cash....so once the money has gone in there.....it cannot get out with Budget Controller - sanctioning it out - as per the budget lines.It also become impossible to say where the money went - except as per the budget.
Why doesn't anybody ask how treasury 20B dollars get disbursed...but go anal about 2B eurobond. Or because those were dollars..and others are Kshs.
Money was received in kenya, that was easily verifiable by looking at forex reserves. The question was what it was spent on other than the syndicated loan repayment. The reason it can't be tracked is cause it wasn't dispersed within the IFMIS. And that's how the money was stolen.
Do you have info contrary to this? https://www.nation.co.ke/news/Why-you-ll-never-know-all-the-truth-about-Eurobond/1056-5081894-hplce0/index.html
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You always get it wrong because you go with newspaper spins. Read it again. Ignore the headline. The funds were fungible. Those that didn't use IFMIS won't use IFMIS - Army, NIS, TSC....you want to Ifmis teacher salaries :)
Do you have info contrary to this? https://www.nation.co.ke/news/Why-you-ll-never-know-all-the-truth-about-Eurobond/1056-5081894-hplce0/index.html
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A staggering Sh725 billion was spent outside the government’s expenditure system in 2014 when Kenya took its first Eurobond, making it impossible to prove how the loan was spent.
Did he not know about this in the first audit? These guys(Ouko too) just never state anything clearly. Whichever way you slice it, wanjiku as usual finds herself at the cleaners.
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The audit cleared Eurobond and made recommendation for ear-marking such funds to specific projects. That first sentence is nonsense from the writer. Ouko, Adhiambo, Treasury and CBK have all cleared Eurobond. we are only waiting for Raila to endorse it as part of handshake like he is doing to SGR.
A staggering Sh725 billion was spent outside the government’s expenditure system in 2014 when Kenya took its first Eurobond, making it impossible to prove how the loan was spent.
Did he not know about this in the first audit? These guys(Ouko too) just never state anything clearly. Whichever way you slice it, wanjiku as usual finds herself at the cleaners.
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The audit cleared Eurobond and made recommendation for ear-marking such funds to specific projects. That first sentence is nonsense from the writer. Ouko, Adhiambo, Treasury and CBK have all cleared Eurobond. we are only waiting for Raila to endorse it as part of handshake like he is doing to SGR.
A staggering Sh725 billion was spent outside the government’s expenditure system in 2014 when Kenya took its first Eurobond, making it impossible to prove how the loan was spent.
Did he not know about this in the first audit? These guys(Ouko too) just never state anything clearly. Whichever way you slice it, wanjiku as usual finds herself at the cleaners.
What different thing is the audit saying from what it said the last time?
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Tell us.We have been waiting with baited breath for someone to tell us us feds participated in international fraud together with likes of Jp Morgan.Some nonsense don't deserve a response
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Ndii is the one who shows how Eurobond was eaten with as much as 100% overspends in some projects in under one year
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The same Ndii who refused to face Dr Thuge Kamau- the PS finance. Some nonsense don't deserve airtime.
Ndii is the one who shows how Eurobond was eaten with as much as 100% overspends in some projects in under one year
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Ndii is the one who shows how Eurobond was eaten with as much as 100% overspends in some projects in under one year
What is his latest hot take? I wouldn’t be surprised that we are looking at something worse.
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Ndii is the one who shows how Eurobond was eaten with as much as 100% overspends in some projects in under one year
What is his latest hot take? I wouldn’t be surprised that we are looking at something worse.
There is no new take. He is just reminding us that the audit is not giving Jubilee a clean bill of health but is rather deflecting. The question was not whether we got the money but where the money went. His article from 2016 attempts to trace disbursement of whatever was left after the proceeds paid off a small loan.
Ouko stops with the money landing in the treasury and Ndii picks it up from there.
Why would you have billions spent outside IFMIS?
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Ndii is the one who shows how Eurobond was eaten with as much as 100% overspends in some projects in under one year
What is his latest hot take? I wouldn’t be surprised that we are looking at something worse.
There is no new take. He is just reminding us that the audit is not giving Jubilee a clean bill of health but is rather deflecting. The question was not whether we got the money but where the money went. His article from 2016 attempts to trace disbursement of whatever was left after the proceeds paid off a small loan.
Ouko stops with the money landing in the treasury and Ndii picks it up from there.
Why would you have billions spent outside IFMIS?
That has always been the deflection. Nobody who has ever bothered to look at the evidence doubts that the money arrived. It has always been then where did it go?
There is also what seems to be this "new" Ksh 725 billion number. How did Ouko miss it all this time? How did he find out? It seems there is more involved than just the Eurobond.
I can't think of a good reason to evade IFMIS. I can't even think of how one would spin it convincingly.
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Only a fool think defence, NIS and such bodies uses ifmis.In 2014 some ministries had not transitioned to ifmis.TSC I think had refused to move their payroll to ifmis.TSC have huge budget...3b dollars I think.Not everything is a scandal.