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CORD leader Raila Odinga, who had threatened to name the “persons of interest” behind the Eurobond graft saga last week, indeed lived up to his word yesterday when he named eight senior government officials whom he says played a role in the saga that has left Sh 140 billion raised from the Eurobond unaccounted for.

“We are in the middle of a great con game, treasury and thievery by the agents of Kenyan states working in cahoots with international actors, Raila said at a press conference held in Serena hotel.


Treasury Cabinet Secretary Henry Rotich; Chief of Staff and head of public service Joseph Kinyua; PS Kamau Thugge; Central Bank of Kenya (CBK) board chairman Mohammed Nyaoga; John Birech, the director of financial markets at the CBK; Moses Muthui, the manager of financial markets at the CBK; Controller of Budget Agnes Odhiambo; Bernard Muiruri Ndungu, the chief accountant at the National Treasury; Julius Kilinda of the Accounting Unit at the National Treasury; and former CBK governor Njuguna Ndung’u.

Raila revealed that the documents of remittances of the money into the country were forged and maintained that nearly half the amount (Sh102 billion) ever made it into the country.

“$1 billion (Sh102billion) from Eurobond proceeds did not get to Kenya,” Raila said.

“The scheme is so elaborate, so thick and so reckless that we believe these officers acted for or on instructions from bosses higher up the Executive ladder. Your guess is as good as mine on who the owners of the plot really are,”.

Raila accused the National Treasury of being at the center of an elaborate scheme of deception intended to mislead taxpayers that the bond proceeds were deposited into the Consolidated Fund, even where there was clear evidence to the contrary.

“The National Treasury did not pay immediately into the Consolidated Fund the full amount of the net proceeds of the Sovereign Bond of Sh173.9 billion (US$1.9 billion) received on June 24, 2014,” said the former Prime Minister.

The opposition leader has demanded for the resignation of top treasury officials, who he says undermined the Constitution by refusing to deposit the Eurobond proceeds immediately and in full into the Consolidated Fund. He maintains that they also be prosecuted for concocting documents to cover up a massive loss of Public Funds and for deliberately misleading the Public Accounts Committee and taxpayers that the Eurobond Proceeds were paid in full into the Consolidated Fund.

“We demand that the top national Treasury officials,  Cabinet Secretary Henry Rotich; PS Kamau Thugge and accountant general Mr Bernard Ndungu resign immediately and be arraigned in court for committing the following acts or omissions,” said Raila.


Most of the individuals named by Raila have however distanced themselves from the allegations and threatened to sue him for tarnishing their names.

“The allegations constitute reckless impunity and is a serious affront on my character and I will be taking action so that I can vindicate my character, ” Mr Nyaoga said.

“Raila’s allegation is a “malicious and reckless political witch-hunt which will not pass unchallenged” Mr Kinyua’s lawyer Ken Ogeto.

“We demand that Hon Raila forthwith retracts his baseless and unwarranted allegations failure whereof we have instructions to institute legal action against him,” he said.


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