Auditor General best placed to unravel Eurobond mystery

The recommendation by the Ethics and Anti-Corruption Commission (EACC) that the Eurobond investigations be referred to the Auditor General is instructive on the role each plays in accountability of public funds.

In the letter to the Director of Public Prosecutions (DPP), EACC recommended that the matter be referred to the office of the Auditor General for proper accounting.

“The files should be forwarded to the Auditor General, being the independent body with the mandate to audit accounts,” the EACC said.

A statement from the DPP stated that the EACC has found no evidence that part of Sh250 billion raised from a Eurobond has been stolen by government officials.

Even while the DPP Keriako Tobiko will examine the file and make a decision, the recommendation to have the Auditor General thoroughly investigate is the right one.



The Constitution in article 229 (4 and 6) requires the Auditor General to report and confirm whether or not public money has been applied lawfully and in an effective way. Once he undertakes the audit, he will give his opinion whether the Eurobond proceeds were transparently accounted in the bank accounts, utilized in the manner envisioned when floating it and where used, prudently used to guarantee value for money.


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